Independent Evaluation of the Climate Investment Funds (CIF)
turbines in Tunisia
What Are the Climate Investment Funds?

Final evaluation Report
Main Report (including Management Response and IRG Comments) | Annexes | Presentation
French / Spanish translation forthcoming

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 SCF has three subfunds: the Forest Investment Program, the Pilot Program for Climate Resilience, and the Scaling-up Renewable Energy Program. The CIFs currently have about $7 billion in pledged funds and have programs in 48 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.

About the Evaluation

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.

After extensive consultation, the EOC produced an Approach Paper detailing the Evaluation purpose, questions, and approach.  The Approach Paper and budget were approved by the CIFs in September 2012.  A consulting company, ICF International, was selected through a competitive process, and the Evaluation kicked off in November 2012.


Final Report issued
(June 13, 2014)

Interim Report released
(August 9, 2013)

Inception Report, Interim Report, and Reference Group Comments

The Inception Report sets out the detailed methodology and questions being addressed by the Evaluation.

The Interim Report is a preliminary and partial mid-term report based primarily on desk reviews.  Its purpose is to provide early feedback that may be useful to CIF and Green Climate Fund stakeholders.  It also provides an opportunity for CIF stakeholders to provide comments, so as to improve the final report. Please note that the findings and conclusions of the Interim Report are subject to correction, extension and revision as additional evidence is gathered.  Any citations or quotations to the Interim Report should be appropriately qualified.  While the Interim Report itself will not be revised, any necessary revisions will be incorporated in the Final Report.

Comments on
Interm Report
United Kingdom
World Resources Institute (WRI)

The International Reference Group is comprised of six eminent experts whose review is intended to provide additional quality and credibility to the Evaluation. (Their review of an earlier draft of the Interim Report is can be downloaded here.) The EOC and evaluation team have strived to take these comments into account in revising the Interim Report and Inception Report. .

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