One of the first international meetings to focus on climate finance since the Copenhagen summit last December ended here in Manila today with plans in place to mobilize some US$40 billion for country-led low carbon growth.
The week-long meetings of the Climate Investment Funds (CIF) also made progress on support for developing country action on forests, renewable energies and building climate-resilient development.
The CIF Clean Technology Fund (CTF) endorsed investment plans for Colombia, Indonesia, Kazakhstan and Ukraine. There are now 13 plans in place around the world (see below) and some US$4.3 billion of CTF co-financing allocated to projects ranging from solar power development to the greening of public transport systems. It is estimated that an additional US$36 billion will be leveraged in the coming years from other sources, including the private sector, bringing the total to be mobilized to US$40 billion.
See full Press Release.
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