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 />
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