Carbon Market Finance (CMF) - Climate Initiative for Development (CiDev)

IATI Identifier: GB-GOV-13-91100
Published in IATI IATI
  • date_range Nov 15, 2013
  • autorenew Implementation (Status)

CMF has been developed jointly by the Department of Energy & Climate Change and the Department for International Development and in total the UK is contributing £50 million over 2013 to 2025 to build capacity and develop tools and methodologies that will help least developed countries, especially in Sub-Saharan Africa, to access finance from the carbon market. The UK will provide £49 million to the World Bank’s Carbon Initiative for Development (Ci-Dev) to deliver CMF. Ci-Dev will invest in low carbon technologies that deliver community and household level benefits, particularly focused on improving poor peoples’ access to clean energy. By successfully demonstrating the ability of carbon finance to deliver low carbon development in least developed countries Ci-Dev hopes to increase future carbon finance flows to these countries. A further £1 million will be used to monitor and evaluate these impacts and capture and disseminate this knowledge. CMF aims to achieve significant development impacts, installing upwards of 165MW of new renewable energy generation, avoiding an estimated 2.6 MtCO2e, and mobilizing £982 million of private sector finance into clean technologies. ;

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Sectors:
  • Sectors not specified error
    Sector code:
    99810 - Sectors not specified
    Sector vocabulary:
    1 - OECD DAC CRS Purpose Codes (5 digit)

Participating Organisations

Organisation Name Organisation Type Organisation Role
UK Department of Energy and Climate Change Funding
World Bank Carbon Finance Unit Accountable

Transaction

Transaction Value Provider Receiver Type Date
35,000,000 GBP (Valued at Dec 10, 2013) circle UK Department of Energy and Climate Change circle Ci-Dev World Bank Disbursement date_rangeNov 19, 2013

Budget

56,401,761 USD
35,000,000 GBP (Valued at Nov 19, 2013) date_range Nov 19, 2013 - Dec 31, 2017
access_timeUpdated on Apr 15, 2019 08:36:50
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