Enhancing Access to Concessional Climate Finance: Perspectives from the IDBs Experience with Major Climate Funds: CIF, GCF, and GEF

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Jul 2024
Meeting the climate change challenge requires the climate funds and multilateral development banks like the IDB to work synergistically, building on the comparative advantages of each. The IDB Group and other multilateral development banks are key partners, materially leveraging climate fund financing (5x leverage factor in the case of the IDB) and delivering measurable impact. To speed progress, this note presents a set of recommendations for enhancing access to the concessional finance that these funds can provide. These recommendations are mainly focused on streamlining climate funds approval processes, further developing their product offer, and enhancing their coordination and complementarity.This note was prepared by the IDB as an input to the work of the G20s Sustainable Finance Working Group on enhancing access to concessional climate finance. Stemming from the IDBs own experience working in Latin America and the Caribbean with some of the major global concessional climate funds, it intends to provide its perspectives and lessons learned on aspects affecting access to funding from the Climate Investment Funds, the Global Environment Facility and and the Green Climate Fund.