About Climate Investment Fund:
- It was launched in 2008.
- It is a multilateral climate fund that enables climate action in over 70 low and middle income countries.
- Purpose: The purpose of CIF is to finance comprehensive measures for climate change mitigation and adaptation in developing and emerging economies.
- CIF deploys highly concessional finance to empower transformations in clean technology, energy access, climate resilience, nature-based solutions, and other areas.
- CIF comprises two funds: the Clean Technology Fund (CTF) and the Strategic Climate Fund (SCF).
- It is the only climate fund working exclusively through six AAA-rated multilateral development banks (MDBs) namely;
- Asian Development Bank, African Development Bank, European Bank for Reconstruction and Development, Islamic Development Bank International Finance Corporation and World Bank
- Governance: The Clean Technology Fund (CTF) Trust Fund Committee is the decision-making body responsible for determining and overseeing the operations and activities of the fund.
- In 2024, CIF became the first multilateral climate fund to list bonds on the capital markets, with the CIF Capital Markets Mechanism (CCMM).
Secretariat: The CIF Secretariat is hosted by the World Bank.
