Date of effectiveness: 2011
The Clean Technology Fund (CTF), which aims at promoting scaled?up deployment and transfer of clean technologies by funding low?carbon programmes and projects that have significant potential for long?term greenhouse gas (GHG) emissions savings. The CTF is at the forefront of financing promising renewable energy technologies, such as concentrated solar power (CSP). The CTF provides concessional lending, guarantees and grants to the public and private sectors.
It support sectors who provide:
- positive incentives for the demonstration of low carbon development and mitigation of greenhouse gas emissions through public and private sector investments;
- promotion scaled-up deployment, diffusion and transfer of clean technologies by funding low carbon programs and projects that are embedded in national plans and strategies to accelerate their implementation;
- promotion realization of environmental and social co-benefits thus demonstrating the potential for low-carbon technologies to contribute to sustainable development and the achievement of the Millennium Development Goals;
- promotion international cooperation on climate change and supporting agreement on the future of the climate change regime;
- utilization of skills and capabilities of the MDBs to raise and deliver new and additional resources, including official and concessional funding, at significant scale; and
- provide experience and lessons in responding to the challenge of climate change through learning-by-doing.