The Climate Investment Funds (CIF) are a collaborative effort between the multilateral development banks (MDBs) and countries to help developing countries transform to low carbon and climate-resilient development. They aim to do this by bridging the financing and learning gap between now and a potential post-2012 global climate change agreement. The CIF Trust Funds are governed by committees and sub-committees with balanced representation of donors and recipient countries, and active observers from the UN, Global Environmental Facility (GEF), civil society, indigenous peoples and the private sector.
This business guide to the CIF aims to create awareness in the business community on the CIF and to cast light on the role, structure and current status of the CIF. A more ambitious aim is to provide private sector relevant information on the mechanics of the roll out process and how the private sector can get involved. This would better prepare the private sector and catalyze engagement – a critical feature of the funds. We hope that this initial guide will help along this route, but recognize that in view of the newness of the funds and the scattered sources of some information, this will require further exploration to provide more practical information to the private sector. The Funds were approved by the World Bank’s Board of Directors on July 1, 2008, and since their inaugural meeting in October 2008 the funds have moved from a concept to early stage operations.
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