- IRENA/ADFD Project Facility: Lessons from the selection process2.97 MB
The COVID-19 crisis has highlighted the importance of partnerships to address global inequalities. The partnership between IRENA and ADFD has facilitated the allocation of USD 350 million in low-cost capital to 32 renewable energy projects with strong sustainable development benefits in developing countries. Projects were assessed and shortlisted by IRENA and then recommended to ADFD for funding. Much of the support from IRENA/ADFD Project Facility, allocated over seven annual funding cycles, was directed to least developed countries and small island developing states.
This report examines IRENA’s implementation of the selection process over the Project Facility’s seven cycles. Through historical data, surveys and interviews with stakeholders from the seventh cycle, it draws out lessons to inform future financing initiatives, ensure just inclusion and scale up renewable energy in developing countries. The assessment aims to promote partnerships and facilitate funding for climate resilience measures and help countries achieve the United Nations-endorsed Sustainable Development Goals.
Report by Irena