The Climate Investment Funds, established in 2008, are a pair of funds to help developing countries pilot low-emissions and climate-resilient development. The purpose of the Clean Technology Fund (CTF) is “to provide scaled-up financing to contribute to demonstration, deployment and transfer of low-carbon technologies with a significant potential for long-term greenhouse gas emissions savings”. That of the Strategic Climate Fund (SCF) is “to provide financing to pilot new development approaches or scale-up activities aimed at a specific climate change challenge or sectoral response” The CIFs currently have about $7 billion in pledged funds and have programs in 46 countries.

CIF projects are executed by these multilateral development banks (MDBs): the African Development Bank, the Asian Development Bank, the European Bank for Reconstruction and Development, the Inter-American Development Bank, the International Finance Corporation, and the World Bank.

The CIFs are each governed by a trust fund committee with equal representation of contributor and recipient countries. The SCF has three subfunds: the Forest Investment Program, the Pilot Program for Climate Resilience, and the Scaling-up Renewable Energy Program.

An independent evaluation of the CIF is forthcoming. The public was asked for input on priority issues to address,in which the responses were summarized .

The governance frameworks of the two Climate Investment Funds provide that “an independent evaluation of the operations of the CTF [and SCF] will be carried out jointly after three years of operations by the independent evaluation departments of the MDBs." The five Independent Evaluation Departments (EvDs) of the MDBs have constituted a six-person Evaluation Oversight Committee (EOC) to oversee and manage this evaluation.

For more information about this evaluation, including methodology, timeline and independence, visit our FAQs page.