In the case of the CIFs set-asides, private sector party proposals have been submitted through a multilateral development bank in the countries where each of the funds operate. Among the multilateral climate funds the CTF's Dedicated Private Sector Program (DPSP) and the GEF have been the best at generating engagement and allocating its public funding to mobilize further private investment (Whitley, Chiofalo, & Barnard, 2014, Trabacchi, Brown, Boyd, Wang, & Falzon, 2016). Higher levels of private sector investment have happened in high-income countries including BRICS and OECD (e.g. Mexico) members (Whitley, Chiofalo, & Barnard, 2014). The CIFs funding to the private sector has helped to the viability, knowledge and risk gaps for their investment, through different sets of instruments including contingent recovery grants, first loss guarantees/subordinated debt, guarantees and dedicated lines of credit to financial intermediaries (Trabacchi, Brown, Boyd, Wang, & Falzon, 2016).