The effectiveness of climate finance: a review of the Pilot Program for Climate Resilience

Working and discussion papers
September 2014
Nella Canales Trujillo, Smita Nakhooda and Sam Barrett
The Pilot Program for Climate Resilience (PPCR) is the largest multilateral adaptation fund, with pledged capitalisation of more than $1 billion in grants and concessional loans. The PPCR aims to achieve “transformational change” towards climate resilient development in recipient countries; focusing on mainstreaming climate adaptation into national level plans, poverty alleviation strategies and sustainability goals. This working paper is one of a series of ODI studies into the effectiveness of international climate funds using a common analytical framework. The PPCR approach has expanded the range of financial instruments used to support adaptation in developing countries, engaged Ministries of Finance in discussions around resilience, and focused attention on the need to address underlying policy, regulatory and institutional capacity to support resilient development. In many ways, it has been a game changer on adaptation finance. There is, however, a need to deepen national ownership of PPCR supported programs, and ensure that funding addresses the needs of the poorest and most vulnerable, to ensure long term effectiveness and sustainability.
Corrections and clarifications
This working paper was updated in September 2014 to reflect insights from the independent evaluation of the CIFs and the June 2014 CIF Partnership Forum.