CIF was founded in 2008 with the idea that large-scale concessional capital deployed through a partnership of institutions with a track record and knowledge of developing economies could catalyze transformational investments and help create new markets in alignment with our development and climate goals.
It is now a $8.5 billion fund focused on driving climate action through 300+ programs in 72 developing countries. Its business model works through six multilateral development banks (MDBs), to provide financing at scale that is risk-bearing, patient, and below-market-rate to support projects across clean energy, energy access, sustainable transport, climate resilience, and forestry.
Particularly pertinent to the goals of the PPCA is the CIF’s G7-endorsed Accelerating Coal Transition (ACT) investment program – a holistic approach to tackling three critical challenges (governance, people, infrastructure) related to transitioning away from coal and supporting client countries in pursuit of climate-resilient goals.
This vast experience will be deployed to specific workstreams such as strategic cooperation e.g., identifying policy gaps in member countries and assisting in developing policy frameworks that accelerate the clean transition. Other areas where CIF know-how can best serve the alliance include knowledge sharing, country specific capacity building and communications outreach to elevate relevant initiatives.