The Canadian International Development Agency (CIDA) provides funding through a counterpart fund. CIDA disbursements up to March 31, 2004 has been CND$ 61.4 million out of the total commitment of CND$ 72 million. No more funds are expected to be received from CIDA as per decisions taken in the bilateral meetings between Government of Canada and Government of India. The funds received so far, with interest earned on deposits, is projected to grow to the equivalent of Rs. 267 crores (CND$ 89 million) by the end of the project (December 2007). As of March 2004, Rs. 267 crores (CND$ 89 million) have been committed on 33 closed & ongoing projects six small grants initiatives and the ICEF Project Office, of which Rs. 170 crores (CND$ 56.7 million) has been disbursed. Total disbursements for the year 2003-2004 on projects and ICEFPO has been Rs. 23.6 crores (CND$ 7.30 million).

ICEF has committed the entire estimated Rs. 267 crore available funds over the life of the project (estimated to be till 2007). Thirty three projects and six small grants initiatives have been approved which are worth about Rs. 248.7 crore plus ICEF Project Office to incur a cost of Rs. 18.3 crore. As of March 31, 2004, ICEF held approximately Rs.664 crore in deposits and on savings account balances. Funds held on deposit are invested in international banks at competitive rates. Total Funding received from MOEF has been about Rs. 135.13 crore through the sale os commodities like potash and steel rail expedited by CIDA, Canada. Till date, ICEF has received an interest of Rs. 101.3 crore on these funds. Total disbursement made are about Rs. 1702 crore.