The Fund was created at the demand of IADB members and clients in the LAC region, which were demanding for new levels of assistance and cooperation to expand the application of renewable energy and energy efficiency technologies, including biofuels, to increase their participation in carbon markets, and to reduce the vulnerabilities of their economies to the effects of climate change. Therefore, the IADB members and clients in the LAC region are also the beneficiaries of the Fund.

The strategic objective of the Fund is to mobilise resources to support the preparation of high impact investments, and finance pilot projects with options to scalability for mitigation and adaptation. The activities to be financed under this Fund will complement conventional IADB energy investments in the region, by aiming at developing renewable energy and energy efficiency projects and programmes that are responsive to economic and social needs, and which will contribute to energy and environmental sustainability.

The following outcomes can be listed, without being exhaustive:

SECCI will promote innovative renewable energy technologies-

Funds from other multilateral funds (e.g. Global Environment Facility) will be mobilised for future investments-

The national governments of the LAC countries will have a better understanding of the barriers impeding RE and EE projects-

The national governments of the LAC countries will be able to better respond to climate change impacts.

Resultados previstos:  

The following outputs can be listed, without being exhaustive:

Renewable energy and energy efficiency pilot projects will be structured and financed-

Publications on the financial and technical barriers for innovative technologies will be financed-

Sustainable public transport projects will be implemented in large cities-

Emissions from deforestation and forest degradation will be reduced.