C40 Cities Finance Facility
Access to finance is one of the most significant barriers that mayors face in delivering on their climate change plans. This challenge is particularly acute in cities from developing countries and emerging economies where there is a shortage of expertise in securing investment for infrastructure projects. At the same time, these cities have enormous potential to reduce emissions while being highly vulnerable to the impacts of climate change.
To address this issue, the C40 Cities Finance Facility (CFF) supports C40 cities in developing and emerging countries to prepare and deliver sustainable, low carbon and climate adaptation projects. The CFF is funded by the German Federal Ministry for Economic Cooperation and Development (BMZ) and the United States Agency for International Development (USAID), with additional in-kind assistance from the Inter-American Development Bank (IADB). Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH and C40 together serve as implementing agencies.
The ultimate objective of the CFF is to reduce greenhouse gas emissions and increase resilience by mobilising finance for city-level climate change action.
The CFF will aim to achieve the following high-level project outcomes:
- Sustainable financing of urban climate change projects;
- Capacity development of city administrations to mobilise and access a broad range of financing instruments;
- Knowledge sharing beyond CFF partner cities via peer-to-peer learning and through other CFF stakeholders;
- Partnerships between cities, investors/financiers and their representations.
The CFF was launched at the C40 Forum during COP21 in Paris. The first two pilot projects were announced in September 2016: the CFF will help transform cycling in Bogotá through the development of new cycling infrastructure, and assist with the development of a green transportation corridor with a fleet of clean electric buses in Mexico City.
Please email email@example.com for more information about the C40 Cities Finance Facility.