Interact Climate Change Facility (ICCF) is a co-investment facility involving the European Development Finance Institutions (EDFIs), Agence Française de Développement (AFD) and the European Investment Bank (EIB). ICCF will make climate friendly investments in the private sector in poor countries. It will demonstrate to private sector investors the financial attractiveness of climate-friendly projects in developing countries and will catalyze long-term investments. The initiative promotes the use of clean technology as an integral part of economic development. The facility contributes to sustainable economic development by providing long-term financing for renewable energy and energy efficiency projects in poor countries suffering from significant energy shortage/access.
ICCF builds on the successful model of European Financing Partners S.A. AFD, EIB and the EDFIs have committed EUR 300 million to the fund, of which Norfund EUR 5 million. It will fund private sector operations proposed by any of the EDFI shareholders. ICCF will finance up to 75% of a project proposal with a maximum of EUR 45 million, while the remaining 25% will be financed by the proposing EDFI member.