IFC Earth Fund The IFC Earth Fund Platform is the first Platform under the GEF Earth Fund (project #564149).  The IFC Earth Fund Platform is being established with the creation of the GEF Earth Fund.  As the first operational platform, the IFC Earth Fund will capture opportunities with the private sector by leveraging IFCs comparative advantage specifically in the areas of Climate Change and Biodiversity.    The strategy for the IFC Earth Fund Platform is to engage with the private sector to access GEF funding for the purpose of accelerating the emergence and replication of innovative business models, technologies or technology applications that will generate global environmental benefits in the areas of Biodiversity SP 1-4 and Climate Change SP 1-8.  The IFC Earth Fund Platform will be a portfolio of individual projects that seek to promote projects in these strategic areas, including support of investments in early stage technology ventures and the development or participation in venture capital funds with a specific mandate that is in line with the GEF strategic priorities and the areas of focus under the IFC Platform.  The IFC Earth Fund will employ a variety of financial mechanisms; these may include but will not be limited to: grants, convertible grants, loans, guarantees, equity, mezzanine investments, incentive prizes, directly managed consultancies, technical assistance, capacity building and knowledge management.        Venture capital funds would be designed in the form of a project within the IFC Earth Fund and may be managed by external managers or professionals in the field.  Financial reflows that may incur from any individual projects would be returned to the GEF Earth Fund to be re-invested for the benefit of existing for future Platforms under the GEF Earth Fund.  Project costs may include capital expenditure, working capital requirements, costs for implementation and supervision of projects, and expenses related to procurement of goods and services.  Individual projects under Platforms will achieve a minimum leverage for GEF funds of 1:3 (GEF: other funding). The IFC Earth Fund will seek to achieve higher leverage ratios for individual projects as well as on the portfolio of projects within the IFC Earth Fund Platform as a whole. All Platforms and projects developed under the GEF Earth Fund will be in line with the Operational Strategy and Strategic Programs of the GEF ( http://www.gefweb.org/interior.aspx?id=72 ) , the Strategic Priorities strategy of the GEF incorporates guidance from conventions for which GEF serves as financial mechanism: the Convention on Biological Diversity, the UN Framework Convention on Climate Change, the Stockholm Convention on Persistent Organic Pollutants, and the United Nations Convention to Combat Desertification. It also establishes operational guidance for international waters and ozone activities, the latter consistent with the Montreal Protocol on Substances that Deplete the Ozone Layer and its amendments.    All projects under the IFC Earth Fund platform will contribute to the overall GEF Earth Fund development impact through the projects funded under the IFC Earth Fund.  These projects will specifically address the strategic priorities and operational strategies of the GEF in Climate Change and Biodiversity.