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Mongolia elected as member of CIFs steering council

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Mongolia has been elected as one of the member states of the Steering Council of the Climate Investment Funds (CIFs) during the CIFs Partnership Forum took place June 23-24 in Montego Bay, Jamaica.

The forum was organized by the World Bank Group, and it covered areas like knowledge and learning on low carbon, climate resilient development and a key meeting place for climate change champions from around the world.

As of present, the CIFs has collected money of USD 8.8 billion, and the capital is being spent for low-income and developing countries. The CIFs Partnership Forum decided to give a non-refundable aid of USD 300 thousand to Mongolia for working out an investment plan for renewable energy after being involved in the list of countries to implement projects in frames of the Scaling-Up Renewable Energy Program (SREP).

Approved in 2009, the SREP is aimed at demonstrating the economic, social and environmental viability of low carbon development pathways in the energy sector by creating new economic opportunities and increasing energy access through the use of renewable energy.

 

SOURCE: Montsame




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