CIF backs Philippines with $500 million investment plan for coal transition 

The governing board of the Climate Investment Funds (CIF) has approved the Philippines government’s investment plan. As part of it, the government will receive an allocation of $500 million from CIF. 

CIF released a factsheet, Accelerating Coal Transition (ACT) Investment Plan for the Philippines, in which it said, “The ACT investment program is a first-of-its-kind multilateral investment platform pioneering a transition away from fossil fuels and toward clean energy.”