This working paper analyses the first set of clean technology investment plans from Egypt, Mexico and Turkey and makes the case for greater emphasis on institutional capacity and governance in measuring programme results. It notes that the Climate Investment Funds (CIFs), which are administered by the World Bank Group, include a Clean Technology Fund (CTF) and a Strategic Climate Fund (SCF) that support several lines of programming. Regional development banks including the Inter-American Development Bank (IDB), Asian Development Bank (ADB), African Development Bank (AfDB) and the European Bank for Reconstruction and Development (EBRD) are partners in the CIFs.The paper makes the following observations about CIFs.

Governance consists of an equal number of representatives of donor governments and developing country governments and decisions are taken by consensus.
Not all sessions of the CTF committee meetings are open to observers.
The implications for the United Nations Framework Convention on Climate Change (UNFCCC) negotiations have been controversial, because several governments have expressed concerns that the establishment of the CIFs may prejudice the outcomes of negotiations on how to finance climate change within the UNFCCC.
The question of what technologies will be eligible for support from the CTF has been a source of significant controversy.
Clean Technology Investment Plans can prompt countries to consider low carbon development options.

The publication includes the following recommendations.

Investment plans should be publicly disclosed prior to CTF committee deliberations.
Investment plan discussions should be open to observers.
Zero carbon technologies and investments in institutional capacity, policy and regulatory frameworks should be CTF priorities.
Improvements in sectoral governance, institutional capacity, and policy and regulatory environments should be explicitly captured in the results framework.
Metrics should be developed to track whether funds contributed to the CTF are new and additional.