FP163
Sustainable Renewables Risk Mitigation Initiative (SRMI) Facility
Sustainable Renewables Risk Mitigation Initiative (SRMI) Facility
Falling technology costs are making investment in renewable energy commercially viable in increasingly more countries. Nevertheless, global investment remains below the targets needed to meet the Paris Agreement. Achieving universal access to electricity will require rapid growth in the share of variable renewable energy used in global power generation.
This programme is designed to help unlock the large amounts of private finance needed to complement the limited public funding available. It will help the seven target countries shift to low-emission sustainable development pathways and increase access to affordable, reliable, sustainable and modern energy. To do this, the programme will support the use of technical assistance, public investments and risk mitigation instruments.
Project timeline
Pipeline
20 May 2020 - 304 days
Funding proposal received
20 May 2020
Cleared by GCF Secretariat
17 Aug 2020
Legal opinion on AE's Internal Approval
19 Feb 2021
Cleared by iTAP
23 Feb 2021
Approved
19 Mar 2021 - 29 days
Approved by GCF Board
19 Mar 2021
FAA executed
19 Mar 2021
Under implementation
16 Apr 2021 - 1,316 days so far
FAA effective
16 Apr 2021
Disbursement - USD 43,000,000
26 Apr 2022
Disbursement - USD 4,000,000
26 Apr 2022
Disbursement - USD 48,500,000
02 Aug 2024
To be completed
16 Apr 2033 - 3,068 days to go
Two regions
- Africa
- Asia-Pacific
Seven countries
- Botswana
- Central African Republic (the)
- Democratic Republic of the Congo (the)
- Kenya
- Mali
- Namibia
- Uzbekistan
Two priority groups
- Least Developed Countries
- African States
-
Financing
- Private sector
- Public sector
-
Size
- Micro
- Small
- Medium
- Large
GCF financing34% disbursed
| Instrument | Amount |
|---|---|
| Grant | USD 54,000,000 |
| Grant | USD 30,000,000 |
| Loan | USD 176,000,000 |
| Guarantee | USD 20,000,000 |
| Total GCF Financing |
|---|
| USD 280,000,000 |
Co-financing
| Co-financer | Instrument | Amount |
|---|---|---|
| Co-Financing | Grant | USD 1,500,000 |
| Co-Financing | Loan | USD 459,500,000 |
| Co-Financing | Loan | USD 750,000,000 |
| Co-Financing | Grant | USD 72,500,000 |
| Total Co-Financing |
|---|
| USD 1,283,500,000 |
GCF Contacts
General media inquiries
GCF CommunicationsSend e-mail
Request for information
GCF Information DisclosureRequest information about this project
Project complaints and grievances
GCF Independent Redress Mechanism (IRM)Phone +82 32 458 6186 (KST)
File a complaint
Integrity issues
GCF Independent Integrity Unity (IIU)Phone +82 32 458 6714 (KST)
Send e-mail
Entity
International Bank for Reconstruction and Development and International Development Association
Senior Carbon Finance Specialist
The World Bank 1818 H Street, NW MSN MC3-309 Washington DC 20433 USA, Washington, United States
More contacts
National Designated Authority
Ministry of Finance and Economic Development
Director, Development Programmes
Principal Economist
Government Enclave, State Drive,, Gaborone, Botswana
Deputy Director, Development Programmes
Government Enclave, State Drive, P/Bag 008, Goborone, Botswana
Ministry of Environment and Sustainable Development
National Coordination of the Green Climate Fund
National Coordinator and GCF Focal Point for the Democratric Republic of the Congo
The National Treasury
Principal Secretary
Treasury Building 12th Floor, Harambee Avenue, Nairobi, Kenya
Programme Manager, National Coordination (FLLoCA)
Senior Policy Advisor, Climate Finance
The Environment and Sustainable Development Agency
Head of department financial resources mobilization
Cite Administrative – Batiment No. 7 – BP: 1634, Bamako, Mali
Ministry of Environment and Tourism
Environmental Commissioner
Deputy Director, Multilateral Environmental Agreements, Department of Environmental Affairs
Ministry of Environment and Tourism, Private Bag 13306, Windhoek, Namibia, Windhoek, Namibia
Chief Conservation Scientist
Ministry of Ecology, Environment Protection and Climate Change
Minister
Chilanzar district, Bunyodkor ave., 7-A, Tashkent, Uzbekistan
Advisor to the Minister
Chilanzar district, Bunyodkor ave., 7-A, Tashkent, Uzbekistan
Head of International Cooperation and Grants Department
Chilanzar district, Bunyodkor ave., 7-A, Tashkent, Uzbekistan