CDIA facilitates Side-Event At Financing for Development Conference, Addis Ababa, Ethiopia
August 10, 2015
On 15 July, on behalf of BMZ and in close cooperation with KfW, CDIA facilitated a side-event on Mobilizing Domestic Financial Resources for Sustainable Urban Infrastructure Development during the Financing for Development Conference (13-16 July) in Addis Ababa, Ethiopia.
While the final Addis Accord only makes limited reference to the role subnational governments play to achieve sustainable development, during the side-event Mr. Ohme (Head Donor relations and Financing for Development Divisions at BMZ) stated: “We as BMZ think that the Addis Accord is a call for action to gear the attention of the to-be-founded Global Infrastructure Forum also prominently towards the needs of cities as important development actors – specifically to the fast-growing medium-sized cities and to megacities, which have to serve millions of people”.
During the event speakers and participants brought up various ideas for strengthening the financial position of sub-national level including:
– Increase their ability to levy local taxes and tariffs
– Provide guarantees to allow subnational level to access credits and issue bonds
– Improve regulatory frameworks and capacity for Public Private Partnerships
– Assist with the preparation of bankable projects and linking these to potential financing sources