EU's City Climate Finance Gap Fund Ends First Year with Finance to 33 Cities
- Sep 28, 2021 1:15 pm GMT
Recognizing that municipalities would have trouble raising the finance for infrastructure projects, particularly those that involve energy efficiency, renewable energy, sustainable mobility, waste management and water projects, the EU set up the Gap Fund to support cities in developing and emerging economies. It also gives free technical assistance for the preparation of early-stage climate action projects.
The City Climate Finance Gap Fund (the 'Gap Fund') has approved technical assistance for 33 cities since its operational launch in September 2020, filling a critical area in technical assistance funding to help cities turn their climate ambitions into finance-ready projects.
Projects are supported in India, Mexico, Ethiopia, Morocco, Democratic Republic of Congo, Panama, Senegal, Vietnam, and many others.
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