An impending shortfall in available resources for the Clean Technology Fund continues to concern, leading to cancellation of projects. Questions were raised about development impacts and reliance on geothermal energy in India and Indonesia's revised investment plans, and on debt sustainability in a Caribbean project.
The Pilot Program for Climate Resilience (PPCR) has expanded with ten countries despite a lack of funds. The US questioned the approval of a Bolivia project and resettlement issues were raised on two Cambodia projects.
Six new countries were invited to join the Forest Investment Program (FIP), with a further nine invited to develop investment plans, despite insufficient funds. Potential support for oil palm plantations in Democratic Republic of Congo and industrial logging in Indonesia and Peru were questioned.
Concerns have been raised about the slow progress with the Scaling up Renewable Energy Program in Low Income Countries (SREP). Ghana, Haiti and Nicaragua's investment plans were approved, with questions asked about the loan/grant ratio, promotion of PPPs, and reliance on funding from the Green Climate Fund.
Notes from a meeting at the IMF/World Bank CSO Forum at the 2015 Annual meetings, focusing on impact of World Bank support to Peru's climate change strategies.
Despite efforts to boost its influence within climate finance circles and a call to “decarbonise development”, the World Bank continues to support fossil fuels.
What’s the issue? Energy is a crucial economic sector which has a disproportionate influence on…
New edition of the Bretton Woods Project's biannual Climate Investment Fund (CIFs) Monitor, published to coincide with the World-Bank hosted CIFs committee meetings.
Concerns have been raised about a projected shortfall of resources for the Clean Technology Fund, with an early warning mechanism due to be discussed. Questions were raised about development benefits of a Colombia project and on safeguards for a Vietnam project.
The Pilot Program for Climate Resilience has invited new countries apply for participation and is also expanding the private sector set-aside to non-PPCR countries. Biodiversity and gender impacts were questioned on a Grenada project and the gender focus on a Haiti project.