Financing For Development Conference in Mexico City: Project Preparation Is Crucial In Linking Cities To Finance
March 28, 2016
In the run up to the Habitat III conference of the United Nations in Quito 2016, the Financing for Development Conference was held in Mexico City from 9-11 March 2016. With the theme “Financing urban development: the Millennium challenge”, about 300 participants gathered to discussed aspects on how urban development can actually be financed in the coming years and how cities themselves might better access financial resources for sustainable urban development. Click here for the Habitat III Mexico City Declaration.
Within the main conference program, the global city network C40 in cooperation with the German Development Cooperation, namely GIZ, organized the well-attended side event “Mobilizing Finance and Strengthening City Capacities for Transformative Low-Carbon and Resilient Urban Development.” The event featured, among others, the newly established C40 Climate Financing Facility (C40 CFF) which aims to support global cities in project preparation, as well as CDIA, which provides vital support to medium-sized Asian cities in project preparation and linking to finance transaction services since 2007. The side event further debated challenges and opportunities in financing urban development through inputs given by the secretary for environment of Mexico City, IADB, USAID, and KfW. The photo shows representatives from (L-R) GIZ, KfW, Mexico City Government, and C40 during the side event.
During the presentations and the following discussion it became apparent that cities need direct access to financial resources, without being completely dependent on the national level. This again underlined the importance of well-prepared bankable project proposals by cities, an issue to which CDIA could give fruitful insights from almost 10 years of advisory services and implementation. Overall, CDIA was able to outline its vital experience in this dynamic field of urban development, being one of the first initiatives of its kind.