Multilateral Development Banks
2030 Goals
01
The VCEFs should build on work to date on specific measures to improve efficiency, including in accreditation processes, project approval times, and accelerated disbursements, with particular attention on increasing access for LDCs and Small Island Developing States (SIDs), and on engaging the private sector.
02
The VCEFs should collaborate to harmonize procedures in support of their integration and reduction of transaction costs.
03
The VCEFs should work together—strategically and sequentially—based on their comparative advantages, leveraging and connecting with existing sources of climate finance, public and private.
04
The VCEFs should proactively support country platforms, shifting from a focus on individual projects to country-driven strategies and investment plans for system transformation.
05
The VCEFs should seek to operate as a system on upstream country programming and pipeline development, leveraging each VCEF’s comparative advantages, including its monitoring, reporting, and learning.
06
VCEFs maximize their catalytic and transformational capacity, leveraging their unique mandates and risk capacities to ensure additionality in the capital stack.
07
Efficiency and accessibility reforms continue at pace, resulting in Funds that are able to partner effectively with a wide range of co-financing institutions and recipients and leading to a reduction in prohibitive transaction costs. VCEFs also provide or facilitate well-targeted technical assistance where needed to enable more institutions, including NDBs, to engage.
08
VCEFs identify and pursue innovative financing options to crowd in private capital, working with MDBs and other DFIs where appropriate.