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311017_CESMED Funding_Mechanisms_Final

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2.4. KfW<br />

KfW is a German bank which promotes and supports climate, environment and other projects<br />

in more than 100 developing countries around the world. KfW, often in cooperation with the<br />

German Agency for International Cooperation (GIZ) which operates under the Federal Ministry<br />

for Economic Cooperation and Development (BMZ), also supports small and medium-sized<br />

enterprises in developing countries. The multi-donor Global Climate Partnership Fund (GCPF)<br />

has, in particular, been launched by KfW and focuses in Morocco and Tunisia from the CES-<br />

MED countries under consideration. The phases (Preparation, Execution, Inspection) of KfW’s<br />

project cycle are shown graphically below 4 .<br />

4<br />

The Project Cycle in Financial Cooperation, KfW, September 2014<br />

This project is funded by the European Union and is implemented by a Human Dynamics Consortium<br />

13

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