WASHINGTON DC, November 4, 2011- World Bank
Climate Investment Funds (CIFs) have approved $1.08 billion in
near-zero-interest loans and grants to support Bolivia, Honduras,
India, Jamaica, Lao PDR, Mali, Mexico, and Nepal in their efforts
toward arresting and adapting to climate change.
Under the CIFs' Clean Technology Fund (CTF), an Investment Plan
prepared by India for $775 million was endorsed. With this
financial support, the Government of India plans to kick-start
India's Super-Efficient Equipment Program (SEEP)
Initiative. The support will also help spur renewable
hydropower development, significantly cutting CO2 emissions.
"Our goal is to invest in projects that impact social and
economic development with significant co-benefits for climate
change,"said Ms. Anuradha Thakur, CTF Trust Fund Committee Member,
representing the Government of India.
Under Chief Pilot Program for Climate Resilience, two new
nation-wide strategic programs for climate resilience were
endorsed:$86 million for Bolivia for multipurpose water
resources projects in El Alto and La Paz and to strengthen the
climate change resilience of the Rio Grande Basin; and $25
million for Jamaica to improve the national risk information
platform, data collection and management systems, and raise
awareness about the risks of climate change.
Under the CHEF's "Scaling Up Renewable Energy" Program, three
new investment plans were endorsed:$30 million for Honduras
to create an enabling environment for scaling-up
grid-connected, renewable energy and for providing off-grid energy
services in rural areas; $40 million was endorsed in principle for
Mali to scale-up solar PV, mini-hydro, and bio-fuel technologies;
and $40 million for Nepal to scale-up small hydropower
and increase rural electricity access using renewable energy.
Under the CHEF's Forest Investment Program, two new investment
plans were endorsed: $30 million in grant funding was endorsed in
principle for Lao PDR to address the drivers of
deforestation and forest degradation by scaling-up participatory
sustainable forest management in all state forest areas; $60
million in grant and credit funding for Mexico to build
capacity for sustainable forest landscapes management, create a
dedicated financing line for low-carbon strategies in forest
landscapes, and to develop business administration and
entrepreneurial skills for sound community-based enterprises to
meet REDD+ targets.
"The question is still: how fast can we scale up
these impressive actions being taken at the country level? How can
the multilateral development banks keep the momentum they've
achieved over the past three years with the Climate Investment
Funds and prompt even bigger investments between now and the start
of the Green Climate Fund," Steer added.
The $6.5 billion Climate Investment
Funds are a global partnership of the African Development Bank,
Asian Development Bank, European Bank for Reconstruction and
Development, Inter American Development Bank, and the World Bank
Group.
At
GLOBE 2012,taking place March 14-16,
2012, policy experts and climate and energy leaders will
provide an update on global climate policy measures and financing
resources that will be available for climate adaptation measures.
Get
More information on GLOBE 2012 here