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.
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.
The IMF in June denied Nepal support under its Catastrophe Containment and Relief Trust, following the earthquake in April.
Notes of a meeting on matching money and expertise at the World Bank-IMF annual meetings 2014
Indicative funding allocations have been agreed for 14 new Scaling up Renewable Energy Program in Low Income Countries pilot countries, however, cautions remained about “unrealistic expectations” about funding availability. Questions were raised about incentives for diesel in a Kenya project.
Clean Technology Fund (CTF) funding approvals continue to rise, including private sector projects for geothermal energy. Revisions for investment plans were approved for Nigeria and the MENA region, with Libya added as a new country.
Funding shortfalls are predicted for the Pilot Program for Climate Resilience (PPCR), as ideas for potential new funding are due to be discussed.
Fourteen new countries were accepted to the Scaling up Renewable Energy Program in Low Income Countries (SREP). Programme implementation continues to be slow, with expected co-financing often dropped.
World Bank faces increased competition over large scale infrastructure in Asia, with the Asian Infrastructure Investment Bank and the BRICS Bank.
Update on the Scaling up Renewable Energy Program (SREP) from CIFs Monitor 9