Urban/rural development (energy access etc.)

The (international) City Climate Finance Gap Fund
Internationally investments in urban infrastructure present an opportunity to rebuild in a way that is climate friendly and that creates co-benefits for job creation, public health and overall well-being. The City Climate Finance Gap Fund that will be launched in September 2020 contributes to ensuring that cities recover from the pandemic while at the same time enhancing their climate resilience and retaining some of the benefits citizens have experienced from cleaner air and reduced pollution. The Gap Fund provides the technical assistance needed to turn climate-focused ideas into concrete urban project proposals. It is an initiative of and currently supported by Germany’s International Climate Initiative (IKI) of the Federal Ministry for the Environment (BMU), the Federal Ministry of Economic Cooperation and Development (BMZ), as well as Luxembourg’s Ministry of the Environment, Climate and Sustainable Development. It is implemented by the European Investment Bank and the World Bank. With a target size of 100 mio. Euro, the Gap Fund will work with cities to unlock €4 billion of investments and implement their climate strategies. In the context of Green Recovery, other programmes have also received an additional budget increase, such as the Project Preparation Facility FELICITY that provides advisory services and capacity building tailored to the needs of municipalities and financial intermediaries in Brazil, Indonesia, Ecuador and Mexico as they struggle with the impacts of COVID-19.

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