The international partnership for Energy Development in Island Nations (EDIN) will work with project participants to implement financing mechanisms for developing renewable energy and energy efficiency projects.
In support of this goal, EDIN partners will
- Encourage capital markets, energy suppliers, technology manufacturers, and project developers to invest in island projects
- Accelerate new investment in clean energy technologies
- Build stakeholder partnerships across all industry and government areas
- Establish a profitable business case for stakeholders
- Focus on energy needs, gaps, and potential
- Take steps to minimize financial risk
- Find or establish possible financing tools
- Supply sample contracts for typical energy efficiency and renewable energy projects
- Provide training, consulting, and workshops.
The World Bank is a vital source of financial and technical assistance to the world's developing countries. It is made up of two unique development institutions owned by 185 member countries—the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA). The IBRD focuses on middle-income and creditworthy poor countries, while the IDA focuses on the poorest countries in the world. Together they provide low-interest loans, interest-free credits, and grants to developing countries for a wide array of purposes that include investments in education, health, public administration, infrastructure, financial and private-sector development, agriculture, and environmental and natural resource management.
The Overseas Private Investment Corporation (OPIC) is a U.S. government agency that helps U.S. businesses invest overseas, fosters economic development in new and emerging markets, complements the private sector in managing risks associated with foreign direct investment, and supports U.S. foreign policy. OPIC has identified $500 million for renewable energy projects globally. This could be in the form of funding or risk guarantees for projects in which U.S. investors have at least a 25% interest.
The U.S. Trade and Development Agency (USTDA) advances economic development and U.S. commercial interests in developing and middle-income countries. The agency can provide funding for feasibility studies for energy projects that provide a potential investment or export opportunity for a U.S. company.
The International Finance Corporation (IFC), a member of the World Bank Group, fosters sustainable economic growth in developing countries by supporting private-sector development, mobilizing private capital, and providing advisory and risk mitigation services to businesses and governments.
The Development Credit Authority of the U.S. Agency for International Development (DCA) has been used since 1999 to provide partial credit guarantees in developing countries to increase the availability of credit, as well as access to it, for a wide variety of borrowers. The 200 projects funded to date have included renewable energy and energy efficiency proposals, and the DCA may be a mechanism to support local commercial funding of EDIN projects.
Climate Investment Funds (CIF) seek to combat the development challenge of climate change and to overcome poverty. Spearheaded by the World Bank, the CIF represents approximately $6.1 billion and will fund programs that contribute to the demonstrating, deploying, and transferring low-carbon technologies; scaling up renewable energy installations; and funding pilot projects aimed at helping developing countries deal with adoption. Assistance is in the form of grants, technical assistance, and loans.
Inter-American Development Bank (IDB) provides solutions to development challenges in 26 countries of Latin America and the Caribbean, partnering with governments, companies and civil society organizations. For clients ranging from central governments to city authorities and small businesses, the IDB lends money and provides grants. It also offers research, advice, and technical assistance to improve key areas such as education, poverty reduction, and agriculture. The IDB also seeks to take a lead role on cross-border issues like trade, infrastructure and energy.