With their statement today, developing countries acknowledged unequivocally that CIF is an essential means to this end,” said CIF Head Mafalda Duarte. Now marking over a decade of climate action, CIF financing is unlocking over $55 billion in climate change-related investments across 72 countries. About CIF Marking more than ten years of climate action, the $8.3 billion Climate Investment Funds is the largest multilateral climate financing instrument in the world. CIF provides developing countries financing for climate-resilient and low-carbon development. Five MDBs—the African Development Bank (AfDB), Asian Development Bank (ADB), European Bank for Reconstruction and Development (EBRD), Inter-American Development Bank (IDB), and World Bank Group (WBG)—implement CIF-funded projects and programs.

Source: Front Page Africa April 15, 2019 01:07 UTC