IKI Fund will mobilise finance and technical assistance from public and private sectors to help emerging economies in climate change mitigation and adaptation activities.
The fund will help countries to implement their Nationally Determined Contributions to climate action, in line with the Paris Agreement.
The German Federal Ministry for the Environment, Nature Conservation and Nuclear Safety have provided €9 million to IKI Fund.
Projects to be funded by IKI Fund will include activities to reduce, limit or sequester greenhouse gas emissions by supporting the shift to EVs, renewable energy, energy efficiency and innovative low-carbon technology solutions.
Climate change is a hot topic set for discussion at this year’s European Utility Week and POWERGEN EUROPE conference. Click here to register to attend or more information about the event.
The IKI Fund complements the International Climate Initiative, launched in April 2008 by the BMU, which provides grant funding to national and international organisations and financial institutions implementing climate action projects in developing and newly industrialising countries, as well as in countries in transition.