The Inter-American Development Bank (IDB) published a note, as an input to the work of the G20’s Sustainable Finance Working Group, addressing the perspectives and lessons learned on aspects affecting access to funding from concessional climate funds such as the Climate Investment Funds (CIF), the Global Environment Facility (GEF), and the Green Climate Fund (GCF), based on IDB’s experience working in Latin America and the Caribbean (LAC) region.

IDB has actively engaged with these three climate funds to become a significant implementing partner for them in LAC region, reaching approximately 11.4% of total CIF approvals (62% of approvals for LAC), 5.5% of GCF approvals (23% of LAC), and 2.4% of GEF approvals (10% of LAC), respectively.

The document presents a set of recommendations for enhancing access to the concessional finance that these funds can provide, mainly focused on: i) streamlining climate funds approval processes; ii) further developing their product offer; and iii) enhancing their coordination and complementarity.