23
sep
2020
Webinar

Cities often struggle with developing climate-friendly and resilient infrastructure. Especially in the Southern hemisphere, cities frequently lack the capacity, finance and support needed for the early stages of project preparation.

This leads to impasses where cities cannot move project ideas to late-stage preparation and implementation. Amid rapid urbanisation especially in developing countries and emerging markets, climate-smart cities are core to meeting global and national climate objectives, including the Paris Agreement.

Announced in 2019, the City Climate Finance Gap Fund helps cities in developing and emerging countries realise their climate ambitions, turning resilient low-carbon urbanisation plans and projects into finance-ready investments. The Fund will help guide climate-smart investments and programmes with the goal of attracting more financing and support for implementation.

During Climate Week NYC 2020, we held an event to bring together high-level champions and partners of the Gap Fund for a discussion on the role of partnerships and targeted finance in driving forward climate-informed urbanisation, particularly in the context of pandemics like COVID-19.

The City Climate Finance Gap Fund

The Gap Fund paves the way for cities to deliver ambitious infrastructure development for low-carbon, resilient and livable cities. It provides technical assistance for early-stage planning and project preparation. It unlocks a pipeline of financially viable urban investments that contribute to local transformation, global climate goals and green recovery. The Gap Fund was announced at the United Nations Climate Action Summit 2019 and was launched in September 2020.  It is funded by Germany and Luxembourg and implemented by the European Investment Bank and the World Bank.

This initiative is in partnership with:

>@EIB
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