IBRD Trust Funds - World Bank
$50,000,000.00 CAD
- Department
- Global Affairs Canada
- Program
- —
- Recipient country
- Canada
- Fiscal year
- 2019-2020
- Agreement period
- March 29, 2020 – March 20, 2043
- Reference
- CA-3-P006167002
Published purpose
This project aims to support Renewable Energy in Small Island Developing States. This initiative aims to scale up renewable energy production, improve energy efficiency, facilitate the integration of variable renewable energy and improve energy sector resilience in targeted countries. The program’s financing supports key actors in designing regulatory incentives for energy efficiency and renewable energy markets and promoting gender considerations in clean energy investments. The 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 is expected to help leverage over US$70 million in private and public finance investment and reduce greenhouse gas emissions by over 900 000 tonnes. This program is one of four programs under the Canada-World Bank Clean Energy and Forests Climate Facility.
In plain English AI-generated
Canada is contributing $50 million to a World Bank trust fund program that supports renewable energy, energy efficiency, and climate resilience in Small Island Developing States, aiming to leverage additional finance and reduce greenhouse gas emissions.
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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