Projects worth US$ 1.08 billion, that will help eight developing countries reduce carbon dioxide emissions and mitigate the impact of climate change were approved in the first week of November by the Climate Investment Funds (CIFs), a partnership of five development banks.
India’s investment plan received a US$ 775 million dollar loan, by far the largest sum approved.
The project money is to be used partly to subsidise manufacture of energy-efficient devices such as ceiling fans, lighting, television sets and refrigerators, and partly to improve energy efficiency in large industries, facilitate the transfer of solar technology and increase hydropower.
In Latin America, Honduras received US$ 30 million for inputting more renewable energy into the national grid and providing clean energy to rural areas. Bolivia obtained US$ 86 million for protecting water sources threatened by climate change in the densely populated areas of El Alto, La Paz and the Río Grande basin.
Mexico received US$ 60 million in grants and credits to improve the sustainable management of forests, including those by community-based enterprises.
In Africa, Mali was awarded US$ 40 million to produce solar, mini-hydro and biofuel energy.
In Asia, US$ 40 million were approved for Nepal for scaling up small hydropower and increasing clean energy supply to rural areas, and US$ 30 million for Lao to reduce deforestation.
The CIF’s Forest Investment Programme launched a grant mechanism that will allocate US$ 50 million to indigenous people and local community projects in Brazil, Indonesia, Democratic Republic of Congo, Mexico, Ghana, Peru, Burkina Faso and Lao.