In April 2021, OeEB increased its commitment to ICCF by a further 15 million euros in order to promote the expansion of sustainable and clean energy projects in under-served developing countries.
|Project name||Interact Climate Change Facility (ICCF)|
|Sector||Energy / Resource efficiency / Infrastructure|
|OeEB project volume||EUR 40 million (ICCF-I: EUR 25 million, ICCF-II: EUR 15 million)|
|Projekt partner(s)||EDFI, EIB, AFD|
The Interact Climate Change Facility (ICCF) was founded in 2010 by the Agence Française de Développement (AFD), the European Investment Bank (EIB) and the European Development Finance Institutions (EDFIs), including OeEB, to jointly finance renewable energy and energy efficiency projects in developing and emerging economies.
ICCF is a co-financing facility for the syndication of debt capital for climate-related investments in developing countries according to the OECD DAC list. The funding capacity per project reaches up to EUR 45 million with a maximum tenor of up to 18 years. The facility offers a fast-track process to syndicate large amounts in an efficient two-step process while reducing the risk of the operation by sharing it with other DFIs. The operations of ICCF are regulated by the Master Investment Agreement (MIA) and the secretarial support services are provided by the EDFI Management Company based in Brussels.
ICCF seeks to promote the development of renewable energy and clean technologies as well as energy efficiency projects in those developing and emerging countries with the greatest energy deficits. By expanding access to clean, reliable and affordable energy in countries, where e.g. demand for electricity is often larger than its supply, ICCF aims to boost socio-economic growth, financial follow-up investments and the containment of climate change. The lack of sufficient long-term credit funds is one of the greatest barriers for renewable energy and energy efficiency projects in developing countries. Demonstrating the economic viability of projects, ICCF also aims to act as a catalyst and attract additional private financing and follow-up investments.
Since the facility was established, more than 35 projects at a total value of around EUR 500 million have been approved. Examples of projects under ICCF include solar energy in India, Honduras and Burkina Faso, wind power in Mongolia and Kenya as well as energy efficiency projects for existing power generation sites in Ghana and Côte d’Ivoire.