IBRD Trust Funds - World Bank
$275,000,000.00 CAD
- Department
- Global Affairs Canada
- Program
- —
- Recipient country
- Cape Verde
- Fiscal year
- 2019-2020
- Agreement period
- March 29, 2020 – March 20, 2043
- Reference
- CA-3-P006167001
Published purpose
This project aims to slow the expansion of coal in the electricity sector by developing low-carbon alternatives (including solar, wind, and geothermal) and improving energy efficiency and grid upgrades in targeted countries. The Energy Transition Program is one of four programs under the Canada-World Bank Clean Energy and Forests Climate Facility (CCEFCF). This program financing is aimed at strengthening key institutional actors’ capacity to design regulatory incentives to boost energy efficiency and renewable energy markets. This Program provides funding alongside credit financing from the International Bank for Reconstruction and Development or the International Development Association. Canada's contribution to the Program expects to leverage more than US$400 million in private and public investment and reduce greenhouse gas emissions by more than 22 million tonnes.
In plain English AI-generated
This project supports the World Bank's Energy Transition Program to reduce coal use in electricity generation by promoting low-carbon alternatives like solar, wind, and geothermal, and improving energy efficiency and grid upgrades in targeted countries. It aims to leverage over US$400 million in investment and cut greenhouse gas emissions by more than 22 million tonnes.
Category: Climate Primarily funds activity outside Canada
Based on the published description. See how AI categorization works — the linked official record is authoritative.
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