The Carbon Initiative for Development is a new mechanism currently being implemented by the World Bank to help Least Developed Countries (LDCs) cope with the adverse effects of climate change.
OBJECTIVE
To help low-income countries access the carbon market and attract low-carbon investments.
RECIPIENTS
Participation is open to both the public and private sector.
GEOGRAPHIC COVERAGE
LDCs worldwide.
FOCUS AREA
The initiative is made up of three different components: (i) a Readiness Fund to support capacity building and knowledge sharing; (ii) a Financing Fund to promote innovative carbon finance mechanisms for the funding of early stage projects; and (iii) a Carbon Fund to support carbon finance in LDCs, including Certified Emission Reduction (CER) and Clean Development Mechanism (CDM) activities.
More details will be specified when the initiative becomes fully operational (at the end of 2012).
HOW TO APPLY
The initiative is not yet fully operational; however, expression of interest forms for the public and private sector are available on the website.
SIZE
USD 135 million.
CONTACT
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Website wbcarbonfinance.org/Router.cfm?Page=CIDEV&ItemID=65997&FID=65997
