Concerns have been raised about the slow progress with the Scaling up Renewable Energy Program in Low Income Countries (SREP). Ghana, Haiti and Nicaragua's investment plans were approved, with questions asked about the loan/grant ratio, promotion of PPPs, and reliance on funding from the Green Climate Fund.
Indicative funding allocations have been agreed for 14 new Scaling up Renewable Energy Program in Low Income Countries pilot countries, however, cautions remained about “unrealistic expectations” about funding availability. Questions were raised about incentives for diesel in a Kenya project.
Fourteen new countries were accepted to the Scaling up Renewable Energy Program in Low Income Countries (SREP). Programme implementation continues to be slow, with expected co-financing often dropped.
Civil society groups criticise IFC investments worth hundreds of millions of dollars in mining projects in Guinea, Mongolia and Armenia for potential negative social and environment impact.
Update on the Scaling up Renewable Energy Program (SREP) from CIFs Monitor 9
This paper critically assesses the appropriateness of the Bank-housed Climate Investment Funds (CIFs) as a model for the Green Climate Fund (GCF). It takes proposals and recommendations by civil society groups and uses them as benchmarks to analyse the CIFs. It finds that in terms of institutional arrangements the CIFs have achieved some notable progress, however, in operations and performance there are serious concerns.
We would like to appologise for any confusion due to an article in Update 62 on water privatisation. In discussing a Bank project in Yerevan, Armenia, it may not have been clear that all statements about tendering the parliamentary commission, water services, and project material were allegations from the Government Accountability Project (GAP) report.