This is an official funding.

Mediterranean Investment Facility (MIF)

Total Amount $10.2 million
Financing Mechanisms End-user payment , Grant , In-kind
Qualifying Projects Mitigation, Energy , Energy Efficiency , Low-Carbon , Renewable Energy
Eligibility Renewable energy & energy efficiency projects in the Mediterranean/Balkan region as defined by UNEP and partners.
Funding Objectives

The Mediterranean Investment Facility (MIF), is a joint initiative under UNEP and the Italian Ministry for Environment Land and Sea (IMELS) which aims at developing a vibrant, sustainable renewable energy market system in the greater Mediterranean and Balkan regions, removing project, policy and trade barriers and strengthening the market system, thereby contributing to poverty alleviation through the provision of modern energy services to populations and to climate change mitigation.

The Mediterranean Investment Facility (MIF) develops and tests different options to increase available financing for renewable energy and energy efficiency systems, such as Solar Water Heating equipment (SWH), in Tunisia, Egypt, FYR Macedonia, and Montenegro and Compact Fluorescent Lamps in Morocco.

Financing Mechanisms

The objectives of the MIF are to lower the charged interest rates to the customers, to ensure financial institutions’ participation by reducing the risk in entering a new market segment, to support the development of partnerships between commercial banks and suppliers of (SWH), as well as to lower the up-front cost for energy efficient appliances.

With the cooperation of local governments and public and private financial institutions, the MIF implements a range of financial support mechanisms and policy enhancements, including:

  • Financing incentives, such as an interest rate buy-down for solar home system financing;
  • Guarantee facility to secure commercial loans and lower interest rates;
  • Investment Advisory Facility-type support that helps banks or other financial institutions evaluate small- and medium-scale investments;
  • Guidance on creating specialized credit facilities, clean energy funds, and investment vehicles; and
  • Bank loan officer training and end-user awareness-raising campaigns.

For more information on MIF financing, please see the Project Examples section below.

Application Procedures

Please visit the UNEP website for more information on participating in this programme.