The $796 million Scaling Up Renewable Energy in Low Income Countries Program (SREP) is a funding window of the $8.1 billion Climate Investment Funds. It was established to scale up the deployment of renewable energy solutions in the world’s poorest countries to increase energy access and economic opportunities. Channeled through five multilateral development banks (MDBs), SREP financing aims to pilot and demonstrate the economic, social, and environmental viability of low carbon development pathways building off of national policies and existing energy initiatives.
|Global Funding Allocation (Donor Currency)||
USD $796 million
|Global Funding Allocation (USD)||
Pre-Programming Phase 1. SREP-Sub Committee (SREP-SC) to agree upon number of country or regional pilots and criteria for country selection; 2. CIF Administrative Unit, through MDBs to inform countries and invite expression of interest; 3. Selection of pilots by SREP-SC based on Expert Group Report; 4. MDB scoping mission at invitation of government to assess readiness and capacity for investment plans; and 5. If requested, MDBs advance preparation grants and investment plan preparation grants to assist development of investment plans. Programming Phase 6. SREP-SC endorses Investment Plan; 7. Investment and financing proposals are developed; and 8. SREP-SC approves financing for investments and other proposals.