The $8.3 billion CIF provides 72 developing and middle income countries around the world with urgently needed resources to manage the challenges of climate change and reduce their greenhouse gas emissions. The CIF is the largest source of concessional climate finance to Africa, providing $2.7 billion—one-third of total CIF funding—in grants and low-cost loans for climate resilience, forestry, and clean energy investments to 29 countries across the region, including North Africa.

Working with partners in client countries and multilateral development banks (MDBs), the CIF’s low-cost, high-risk funds are strategically invested—alongside technical assistance and advisory services—to de-risk climate investments and mobilize other financiers, particularly the private sector, in Africa’s emerging markets. Approved CIF financing totaling $1.7 billion expects to leverage another $13.5 billion from other private and public sources, meaning for every CIF dollar, close to $9 is being invested by others.

THE CIF • 4 FUNDING WINDOWS • TOTALLING $8.3 BILLION • $58 BILLION CO-FINANCING • CLIMATE-SMART DEVELOPMENT IN 72 COUNTRIES

CLIMATE INVESTMENT FUNDS IN AFRICA

THE CIF EXPECTS TO CONTRIBUTE TO AFRICA’S GREEN GROWTH 1

CLEAN TECHNOLOGY FUND

PILOT PROGRAM FOR CLIMATE RESILIENCE

SCALING UP RENEWABLE ENERGY PROGRAM

FOREST INVESTMENT PROGRAM

8.8 million tons of CO2 emissions reductions≈ TAKING 1.7 MILLION CARS OFF THE ROAD FOR A YEAR

3.4 GW installed renewable energy capacity≈ MORE THAN DOUBLE TANZANIA’S

CURRENT TOTAL INSTALLED CAPACITY

Over 17 million men and women supported in building climate resilience ≈ POPULATION OF MALI

2 GWh renewable energy output≈ APPROXIMATELY THE SAME AMOUNT OF ELECTRICITY

PRODUCED ANNUALLY IN MALAWI

Nearly 5 million people and 300,000 businesses benefitting from improved energy access

2 million hectares of forestssustainably managed ≈ SIZE OF RWANDA

Drawing on strengths of MDB partners to implement CIF funding, mobilize other actors, and harmonize support

Initiating institutional changes through multi-stakeholder coordination and capacity development

Linking investments to policy and regulatory reforms Creating viable commercially-oriented markets Supporting adoption and large-scale deployment of low-carbon, climate-smart technologies Influencing behavior change among stakeholders

THE CIF BUSINESS MODEL IS UNIQUE IN THE CLIMATE FINANCE LANDSCAPE AND INSTRUMENTAL IN EMPOWERING WIDER, SYSTEMATIC TRANSFORMATION IN AFRICA

AFRICA IS ONE OF THE WORLD’S MOST VULNERABLE CONTINENTS TO CLIMATE CHANGE. IT IS ALREADY EXPERIENCING THE DEVASTATING EFFECTS OF RISING TEMPERATURES AND INCREASINGLY EXTREME WEATHER. WHILE LEAST RESPONSIBLE FOR THE GLOBAL CLIMATE CRISIS, AFRICAN NATIONS ARE SHOWING TREMENDOUS LEADERSHIP IN RATIFYING THE GLOBAL PARIS AGREEMENT. THEY ARE DEMONSTRATING A SHARED COMMITMENT TO REDUCE GREENHOUSE GAS EMISSIONS AND CURB GLOBAL WARMING AS PART OF THEIR SUSTAINABLE DEVELOPMENT AND GREEN GROWTH.

ESTABLISHED IN 2008, THE $8.3 BILLION CLIMATE INVESTMENT FUNDS (CIF) DELIVER INVESTMENTS AT SCALE TO EMPOWER CLIMATE-SMART TRANSFORMATION ACROSS AFRICA AND AROUND THE WORLD.

$1.8 billion TO SCALE UP CLEAN TECHNOLOGIES

The adoption and widespread deployment of low-carbon technologies is key to transformational change. Through its Clean Technology Fund (CTF), the CIF is allocating $1.8 billion to support renewable energy, energy efficiency, and clean transport investments in Africa. By absorbing risks that other financiers may not be able or willing to bear, CTF concessional financing is bridging financing gaps, driving down upfront costs, and road-testing new business models to support the first use of key technologies in some countries and expansion in others.

In Morocco, the CIF is supporting the 500 MW Noor-Ouarzazate Concentrated Solar Power (CSP) complex—the world’s largest. Despite the potential of CSP, relatively high technology costs, when compared to fossil fuel alternatives, deter utilities from investing. Concessional and public financing have been crucial to lifting this trailblazing project off the ground.

The CIF has channeled $435 million from the CTF towards the plant, alongside African Development Bank and World Bank investments of $700 million, to contribute to the over $3 billion total from private and public sector investors. Independent analysis concludes that the low-cost debt is already driving down the cost of CSP in Morocco by 25 percent for Noor I and an additional 10 percent for Noor II and III, slashing the Moroccan government’s power subsidy from $60 million to $20 million.

$436 million TO INCREASE ENERGY ACCESS WITH RENEWABLES

Renewable energy offers a huge opportunity for sub-Saharan Africa. Presently, the continent loses two to four percent from the combined GDP of all its countries due to power shortages and bottlenecks. Energy access is also far from universal, with 620 million Africans in the dark. The CIF is supporting scaled-up deployment of renewable energy solutions to increase energy access in Africa with $436 million from its Scaling Up Renewable Energy in Low Income Countries Program (SREP).

The vastness of many countries in sub-Saharan Africa, coupled with low population densities, can make access to electricity through grid expansion challenging. Mini-grid schemes, which connect smaller groups of customers to decentralized, sustainable sources, can often be one of the best options to bring energy to a larger proportion of the population. The CIF is providing about $90 million from the SREP to renewable energy mini-grid projects in countries like Mali, Kenya, Tanzania, Liberia, Rwanda, Uganda, and Ghana.

To increase access to electricity through renewable sources such as solar and hydro, Tanzania has launched a renewables mini-grid web portal to support small, renewable power producers who want to sell electricity to consumers, especially to the millions in the country not connected to the main grid. The portal offers information on licensing, financing, and regulations, as well as a mapping tool, to ease the way for investors and developers.

CTFCLEAN TECHNOLOGY FUND

SREPSCALING UP RENEWABLE ENERGY IN LOW INCOME COUNTRIES

Noor-Ouarzazate CSP complex, the largest CSP facility in the world and even visible from space, will supply over 500 MW of power to over a million Moroccan households by 2018.

With access to power from a mini-grid, small business owners in rural areas like Entasopia, Kenya can reliably meet customer demand and improve their income.

PPCRPILOT PROGRAM FOR CLIMATE RESILIENCE

FIPFOREST INVESTMENT PROGRAM

$302 million TO STRENGTHEN CLIMATE RESILIENCE

The vulnerabilities that many African countries face cut across sectors, demanding a holistic, programmatic approach to building a more climate resilient economy. The CIF is the only climate fund to prioritize a multi-sectoral programmatic approach as its primary model of delivery. It embeds investments in a country-driven strategic planning process that links investments with policy and regulatory reform, capacity development, and the activities of the MDBs and other partners to catalyze transformation.

The CIF’s Pilot Program for Climate Resilience (PPCR) uses this programmatic approach to help countries integrate climate resilience into development planning and support innovative solutions to pressing climate-related risks. The CIF has dedicated $302 million from the PPCR to activities that build resilience across the African continent.

One-third of this financing, $110 million, is supporting Niger, which has developed a strategic PPCR investment plan around the nexus of climate-resilient growth, poverty reduction, and food security. This coordinated program of investments aims to implement climate-resilient land and water management programs at scale, incorporate them into local and national government planning, and improve the quality and accessibility of weather and climate information.

$242 million TO ADDRESS DRIVERS OF DEFORESTATION

In ratifying the Paris agreement, most Sub-Saharan African countries included forests as a priority component for mitigation and adaptation.2 The CIF’s Forest Investment Program (FIP) is providing $242 million to support African efforts to reduce deforestation and forest degradation and promote sustainable forest management (REDD+). It is the only multilateral forestry fund to specifically target the “missing middle,” the huge gap for upfront investment financing to support REDD+ implementation activities.

The CIF’s multi-sector, programmatic approach to forestry has initiated an overdue strategic dialogue among various government ministries and non-state actors to build a shared understanding of the crucial role forests play in economic development. Recognizing that the drivers of deforestation often lie outside of forests, the CIF supports a wide range of interventions.

In Ghana, over $70 million from the FIP is supporting a variety of efforts that unite public and private sectors and local communities in restoring degraded forest landscapes, improving forest management and governance, and reducing pressure on forests from cocoa farming, mining, and other industries. Another $5.5 million from the FIP’s Dedicated Grant Mechanism for Indigenous Peoples and Local Communities (DGM) will further promote grassroots participation in Ghana’s REDD+ agenda.

The PPCR is supporting a variety of community-led micro-projects in Niger to scale up successful approaches to climate resilience and support some 180,000 households. In the commune of Falwel (Tondikiwindi), local men and women dug over 18,000 ‘demi lunes’ water catchments and planted each with a tree and grasses to rehabilitate 60 hectares of pastoral land.

CIF support in Ghana includes piloting climate-smart cocoa. Through innovative tree tenure policies and enhanced agroforestry practices, cocoa farmers plant and register shade trees within existing plantations to provide improved growing conditions for cocoa and an eventual source of timber income for their families.

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WWW.CLIMATEINVESTMENTFUNDS.ORG

CIFNEWS@WORLDBANK.ORG

PRINTED NOVEMBER 2016

$2.7B

$1.7B

ALLOCATED AND UNDER DEVELOPMENT—90 projects 33% of total CIF resources $8.3B

APPROVED AND UNDER IMPLEMENTATION —44 projects $13.5 billion co-financing

CIF AFRICA PORTFOLIO3

CIF IS IN 29 AFRICAN COUNTRIES - OVER HALF THE CONTINENT

Allocated and under developmentApproved and under implementation

CTF

2.0001.8001.6001.4001.2001.000

800600400200

-SREP PPCR FIP

USD million

C TF PPCRFIP SREP

This map was produced by the World Bank. The boundaries, colors, denominations, and any other information shown on this map do not imply, on the part of the World Bank Group, any judgment on the legal status of any territory, or any endorsement or acceptance of such boundaries.

Egypt

Ethiopia

$50M

$300M

South Africa

$500M

Zambia

$90M

Morocco

Lesotho

Madagascar

Kenya

$130M

Uganda

$50M

Rwanda

$50M

Mozambique

$131M

Tanzania

$50M

Dem. Rep. of Congo

$66M

Malawi

Niger

$110M

Mali

$65M

Gambia

*

Sierra Leone

Cote d'Ivoire

$29M

Liberia

$50M

Burkina Faso

$39M

Ghana

$116M

Benin

Tunisia

Middle East and North Africa Region CSP Program (Algeria, Egypt, Jordan, Libya, Morocco, Tunisia)

$496M

$150M

Nigeria

$250M

Cameroon

Congo Republic

$5M

*

*

*

**

*

*

* Several countries are new to CIF programs and are preparing investment plans for funding endorsement.

Notes1 Based on 2016 results reports of corresponding funds, which contain data from approved projects that report results in the given 2015 reporting period, not the entire CIF

portfolio. Results reporting continues to expand as more projects begin implementation. See https://www-cif.climateinvestmentfunds.org/progress-and-results.2 Of the 48 Sub-Saharan African countries submitting INDCs, 38 include forestry as a component for mitigation and 33 for adaptation.3 As of June 2016.

Photos: World Bank Group, CIF

CIF AFRICA CO-FINANCING SOURCES

26% MDBs

25% BILATERALS

14% GOVERNMENT

16% OTHERS

19% PRIVATE SECTOR

1.746

302 242436