The so-called “Gap Fund” was launched on 23 September 2020. The fund will address the critical lack of grant funding necessary to mature pipelines of projects from concept to a stage where they can be advanced towards full feasibility analysis and ultimately investment. This will significantly increase the pipeline of high-quality bankable climate-friendly urban infrastructure projects that must be progressed to meet the urgency of the climate crisis. The Gap Fund will support project preparation activities for low-carbon and resilient urban infrastructure projects in a minimum of some dozen cities per year by pursuing the following three principle objectives:
- Capacity building: Enhance cities and local authorities’ capacity to mature high-quality project ideas to later–stage project preparation;
- Pipeline-building for later-stage technical assistance: Build a solid portfolio of project business cases for initiatives and institutions that focus on providing technical assistance for late-stage project preparation; and
- Pipeline-building for investors: Increase at scale pipelines of bankable projects.
For further details, please visit the website: https://www.citygapfund.org/
Impressions of the Launch Event