Finance Innovation for Climate Change Fund

The Finance Innovation for Climate Change Fund (FICCF) is a component of the DFID Kenya program Strengthening Adaptation and Resilience to Climate Change in Kenya plus (StARCK+) which aims to focus its resources in (a) catalyzing private sector innovation and investment, (b) climate change governance, focusing on stronger policy, institutional and regulatory framework, and (c) enhancing capacity of civil society. The FICCF which will operate from January 2014 to March 2017 involves two components, one providing support to three institutions and the second supporting a climate smart agriculture programme implemented in collaboration with microfinance institutions. The FICCF is managed by a consortium of Development Alternative Incorporated (DAI), Matrix Development Consultants and the International Institute for Sustainable Development (IISD).

Three partnership arrangements have been established with The Kenya Association of Manufacturers (KAM), Climate Care (CC) and The United Nations Development Programme (UNDP). The focus of the support to KAM is Strengthening Business Engagement in Climate Change Mitigation and that for
Climate Care is to create Certified Emissions Reductions (CERs) from projects that create new markets for clean energy in Kenya whilst also delivering significant human development impacts. The overall objective of the UNDP program “Support to low carbon climate resilient development for poverty reduction in Kenya” is to support Kenya transition to a low carbon climate resilient development pathway reducing the country\'s vulnerability to climate risk and improving livelihoods. The total value of the three partnerships is £2.6M.

The Climate Smart Agriculture Component aims to support the scaling up of innovation and investment in adaptation/ resilience and low carbon products, services and assets in the agricultural sector by providing repayable grants to micro-finance institutions (MFIs) and their agribusiness partners for on-lending to farmers and agribusiness actors engaged in the production of staple commodities in Kenya. The program is currently under design with the call for grants expected to be issued in early September.

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