What it aims to achieve
The Clean Technology Fund (CTF) enables clean energy transformation in developing countries. It provides resources to scale up low-carbon technologies with significant potential for long-term greenhouse gas emissions savings. The fund supports a wide array of clean technologies across different areas, including renewable energy, energy efficiency (of buildings, agriculture, and industry), and clean transport.
Why it’s needed
Energy consumption is the largest source of global greenhouse gas emissions globally. This includes fuel combustion for transportation and the generation of heat and electricity. Emerging and developing economies are set to account for the bulk of emissions growth in the coming decades, with much of that growth coming from industries and transport. Transforming the energy systems of developing economies is now vital.
HOW IT WORKS
An investment plan is developed under the leadership of the recipient country that identifies the major sources of greenhouse gas emissions and key opportunities for mitigation. The scope of these plans is tailored to fit national priorities. The fund then works to source co-financing and scale access to capital for clean energy projects by encouraging financial institutions to develop lending programs for private companies. Beyond investment plans, countries can also pursue projects that prioritize private-sector investments in specific thematic technology areas.
Delivery Challenges
Challenges include the existing energy mix and infrastructures in partner countries and their capacity to migrate to clean power. New policy frameworks also need to be adopted to enable an ideal regulatory environment for renewables.
MEASURING RESULTS
CTF tracks progress on the reduction or avoidance of greenhouse gas (GHG) emissions; mobilization of co-financing from public and private entities; installed renewable energy capacity; improved access to low-carbon public transport; and increased energy efficiency. The multilateral development banks (MDBs) are responsible for collecting, aggregating, and reporting data on these indicators annually for all CTF-funded projects under implementation.
CTF Key Results
Please note: Not all projects contributing to all indicators
INDICATOR
CURRENT RESULTS
TARGET
Annual GHG reductions/avoided
28.9 MtCO2
TARGET: 74.9 MtCO2
52 projects reporting
TARGET: 122 projects
Cumulative Co-Financing Mobilized (USD)
$24.2 billion
TARGET: $53.8 billion
36 projects reporting
TARGET: 111 projects
Cumulative Installed Capacity
12.1 GW
TARGET: 31.8 GW
42 projects reporting
TARGET: 71 projects
Annual Energy Savings
5,709 GWh
TARGET: 14,381 GWh
17 projects reporting
TARGET: 34 projects
- 0%
- 20%
- 40%
- 60%
- 80%
- 100%
FINANCING
NO. OF CIF-APPROVED PROJECTS
161
ctf Approved Funding
$5.3B
EXPECTED CO-FINANCING
$55.8B
SOURCES OF EXPECTED CO-FINANCING
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Government
$7 B
Bilateral / others
$14.5 B
MDB
$16.2 B
Private sector
$18.1 B
Data as of December 31, 2021
For latest MDB and Government Focal point, please contact CIF Admin Unit @ cifadminunit@worldbank.org
CTF SUSTAINABLE DEVELOPMENT GOALS CONTRIBUTION
Implementing Partners
CTF Projects
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