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The SREP (Scaling-up Renewable Energy in Low-Income Countries) is a program under the "Climate Investment Funds" (CIF), under the aegis of the World Bank Group. As the largest climate funds worldwide, the CIF are designed to support developing and transition countries in meeting carbon emission reduction targets as they attain economic growth. The CIF also serve as a valuable source of experience for a future global climate financing architecture.
Apart from Switzerland, with USD 21 million, the SREP's other donors are the Netherlands, UK, USA, Japan and Norway, with a total of pledged amount of USD 290 million. The SREP strives to demonstrate that developing an eco-friendly energy supply is feasible and makes good sense in poorer developing countries too. It also hopes to stimulate the development and deployment of renewable energy sources in a manner that is economically and socially sound. The positive experience made within the funds should raise investors' confidence in developing countries and in renewable energy sources. All "new" renewable energy sources will be supported by the program that have proven themselves, such as geothermal energy, solar energy, wind energy, biomass and small hydro-power plants.
SECO's contribution to the SREP falls under its climate strategy for economic development and cooperation. With many years of experience in energy efficiency, SECO is now increasingly applying its know-how in the areas of renewable energy sources. The funding comes from the framework credit passed by Parliament for financing economic development and cooperation.