The City Climate Finance Gap Fund, a trust fund established by the World Bank and the European Investment Bank (EIB), has selected three African cities for technical assistance grants. The funding is for the development of climate projects.
Among the nine cities selected for technical assistance grants from the City Climate Finance Gap Fund (Gap Fund) are three African cities. These cities are located in Morocco, the Democratic Republic of Congo (DRC) and Ethiopia. Together with other selected cities around the world, these African cities will benefit from €1.8 million in grants from the Gap Fund.
This €100 million trust fund was launched in 2020 jointly by the World Bank and the European Investment Bank (EIB). The fund aims to support cities and local governments in preparing and prioritising climate-smart plans and investments in order to attract more funding and support from donors. The first wave of grants benefits at least two cities in sub-Saharan Africa.
Developing nature-based solutions
In Kinshasa, the capital of the DRC, the Gap Fund grant will help identify and prioritise investments in nature-based solutions (NBS). Priority will also be given to green initiatives for public buildings, public spaces and street design. The aim is to reduce greenhouse gas emissions, build resilience and improve liveability, particularly in low-income and vulnerable neighbourhoods. Read more…