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Jun 13, 2025
- Brazil, Egypt, Mexico, Namibia, South Africa, Türkiye, and Uzbekistan invited as inaugural countries for CIF’s Industry Decarbonization investment program.
- Industry currently accounts for one-third of global GHG emissions, with decreases by 20 percent by 2030 and 93 percent by 2050 needed to meet climate goals.
Washington, DC - Brazil, Egypt, Mexico, Namibia, South Africa, Türkiye, and Uzbekistan have been invited to participate in CIF’s groundbreaking $1 billion Industry Decarbonization investment program—the first global concessional finance initiative dedicated to reducing industrial greenhouse gas (GHG) emissions in developing countries.
By harnessing the program, these countries are leading the charge on low-carbon industrial transformation and green job creation. This will position them for long-term economic competitiveness and to take advantage of the global market for green industrial goods projected to reach $2 trillion by 2030.
The seven countries will collaborate with multilateral development banks and private sector partners to develop investment plans, which will be submitted to CIF’s Governing Board for endorsement. They will then gain access to highly concessional funding to scale up clean and circular technologies—such as green hydrogen, waste heat recovery, and low-carbon materials like steel, aluminum, and cement—that are critical to the global energy transition.
CIF’s Governing Board selected these seven countries from a pool of 26 applicants, following an evaluation by an independent expert group. They demonstrated strong private sector engagement, institutional readiness, and clear commitment to industrial decarbonization.
In line with the design of the program, invited countries have already started unprecedented engagement with the private sector. The program allows up to 100 percent of financing to be directed towards private sector-led projects or those attracting significant private co-investments, with a mandatory minimum allocation of 50 percent. Additionally, the program focuses on safeguarding and reskilling the workforce, ensuring vulnerable communities are supported and workers are equipped to seize future-proof, green job opportunities.
The Industry Decarbonization investment program is part of CIF's $9 billion Clean Technology Fund (CTF). CTF is underpinned by the CIF Capital Markets Mechanism (CCMM), a first of its kind instrument mobilizing private capital to advance countries’ priorities for sustainable, inclusive, and resilient development.
CTF routinely achieves particularly high co-financing ratios and strong private sector engagement – overall, $1 invested by CIF is expected to generate $12 in financing.
Tariye Gbadegesin – CEO, CIF
“The global race to decarbonize industry has begun, and emerging markets are out front. Decarbonizing Industry is about more than emissions - it’s about securing long term prosperity and the jobs of tomorrow. And it’s about producing the low-carbon industrial inputs that are urgently needed to expand renewable energy capacity and power the global economy.”
Bruno Carrasco, Director General, Sustainable Development and Climate Change - Asian Development Bank (ADB)
"ADB congratulates Türkiye and Uzbekistan for being selected among the countries deemed eligible to receive financing under CIF’s Industry Decarbonization investment program. Decarbonizing hard-to-abate sectors is critical to achieving global climate goals, as these sectors are major contributors to greenhouse gas emissions. ADB recognizes the Program as a significant milestone towards realizing net-zero emissions in Asia and the Pacific—a region that currently accounts for over half of the world’s annual emissions."
Anthony Nyong, Director for Climate Change and Green Growth - African Development Bank (AfDB)
“Industrial decarbonization is not only essential for reducing emissions, but it also presents a transformative opportunity for inclusive and sustainable growth across Africa. As one of the fastest-growing regions after Southeast Asia—with a relatively clean baseline—Africa is uniquely positioned to leapfrog towards a zero-emission, climate-resilient future. Investing in Africa’s decarbonization sector offers high-impact, efficient, and inclusive outcomes. The African Development Bank is proud to partner with CIF on this pioneering initiative, which will support countries in charting low-carbon industrial pathways, creating green jobs, and enhancing global competitiveness in climate-smart industries. The Bank commends Egypt, Namibia, and South Africa for being among the first African countries considered eligible for support under the CIF’s Industry Decarbonization investment program.”
Gianpiero Nacci, Managing Director, Climate Strategy & Delivery – European Bank for Reconstruction and Development (EBRD)
“The EBRD has been a great supporter of the CIF’s Industry Decarbonization program since its very inception. Support from CIF will be critical in helping countries systemically decarbonize hard-to-abate sectors. We are delighted that three EBRD countries of operations - Türkiye, Egypt and Uzbekistan – have been selected to develop an Investment Plan. We look forward to continuing supporting them advancing their decarbonization targets and developing sustainable and competitive industrial systems.”
Juan Pablo Bonilla, Sector Manager Climate Change and Sustainable Development - Inter-American Development Bank (IDB)
“IDB is pleased to continue its collaboration with CIF, this time through the Industry Decarbonization investment program. Countries across Latin America and the Caribbean have demonstrated strong interest in accessing CIF resources to support the adoption of advanced technologies in key industrial sectors such as cement, chemicals, and steel. Active engagement from the private sector will be a critical component of the program, contributing significantly to job creation, economic growth, and innovation."
Chandrasekar Govindarajalu, Practice Manager, Energy Sector Management Assistance Program (ESMAP) - World Bank
“We congratulate the countries that have been selected to develop an investment plan for the CIF Industry Decarbonization investment program and look forward to supporting them in the further elaboration of their strategies and investments. Today's announcement represents a pivotal moment in driving transformative industrial development and job creation.”
Learn More: Industry Decarbonization: Program and Partner Countries Overview