ICCF - EDFI MC

Co-financing facilities

The Interact Climate Change Facility (ICCF)

The Interact Climate Change Facility

About

Established in 2011, the Interact Climate Change Facility (ICCF) builds on the successful model of European Financing Partners (EFP) as a joint-venture between the European Investment Bank (EIB) and several European Development Finance Institutions (DFIs). The ICCF seeks to promote the use of renewable energy and clean technologies as well as energy efficiency in developing and emerging countries by providing long-term financing.

By expanding access to clean, reliable and affordable electricity in these countries, where the demand for electricity often exceeds supply, the ICCF aims to boost economic growth, enable companies to create new jobs and promote a more equitable distribution of incomes. Demonstrating the economic viability of projects, the ICCF also aims to act as a catalyst to attract additional financing, especially in the energy sector in developing countries.

Similar to EFP, the ICCF’s operational structure is characterised by a fast-track, two-step process based on risk-sharing and cost-sharing principles. The parties involved benefit from time and cost savings, as well as a streamlined reporting and monitoring system. The ICCF is an innovative co-investment facility capable of mobilising significant amounts of long-term funding for renewable energy and energy efficiency projects.

Beyond its financing operations to fight climate change, ICCF enables its members to share their practices and tools, and align their strategies. This initiative stands out as an example in terms of financial and technical climate cooperation among DFIs.

Since the facility was established in 2011, a total of 27 projects at a value of €383 million have been approved by ICCF. Projects financed via ICCF include solar energy, wind power, hydro power, energy efficiency at existing power generation plants in several countries in Africa, South America, South Asia, Southeast Asia.