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CDIA Team Speaks at GCoM National Workshop for Accelerating Climate Finance in Malaysia

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As more cities are committing to address climate change under the United Nations Framework Convention on Climate Change (UNFCCC), necessary technologies, tools, and resources must be made available to help them mobilize financing for their climate-resilient and low-carbon development projects. 

On 14-15 June 2023 in Kuala Lumpur, Malaysia, the CDIA team joined over 50 delegates from 17 Malaysian cities and more than 20 speakers from Europe and Asia for the National Workshop on ‘Green Technology and Innovations to Accelerate Access on Climate Finance for Malaysian Cities: Designing Climate Resilient Development Projects.’  

Funded by the European Union, the two-day event was organized by the Global Covenant of Mayors for Climate and Energy (GCoM) Southeast Asia in partnership with Islamic Banking and Finance Institute Malaysia (IBFIM). It aimed to enhance the knowledge and skills of city officials and other stakeholders on climate finance to enable them to access and use appropriate funding mechanisms for climate mitigation and adaptation projects. 

Capacity Development Specialist Kathleen Jovellanos, Communications and Outreach Specialist An Rubenecia and ADB Urban Development Specialist Ivan Fuentetaja represented CDIA. While Kathleen shared her insights on the concept of bankability and risk profiles of projects, the critical importance of assessing the capacity of the city as a viable investment partner, as well as the importance of institutional strengthening, Ivan and An introduced CDIA, how it works with cities as a project preparation facility (PPF), and the considerations for potential project preparation support.  

“Bankability of projects often tends to get confused with the banks, primarily because of the semantics of the term ‘bank’,” said Kathleen. “But the bankability of the project involves a rigorous and robust process of project development, which is what the CDIA is offering as a PPF,” she added.  

Regional development programs such as World Bank, Sustainable Mobility in Metropolitan Regions in ASEAN (SMMR), GIZ-URBAN ACT, GIZ-C40 Cities Finance Facility, City Climate Finance GAP Fund, and FMDV – Global Fund for Cities Development were among those who joined the roster of speakers to introduce their respective programs and provide their insights on the various aspects of climate planning, financing, and implementation.  

“Only by joining forces can we mitigate and adapt to the challenges brought about by climate change,” said Ivan. “GCoM’s vision of mobilizing cities and local governments to take steps toward decarbonization, renewable energy and sustainable urban development is vitally important. 

“We look forward to witnessing the continued impact of GCoM’s collective efforts toward a better Asia and the Pacific,” said An. “We at CDIA are happy to see great potential for collaboration with cities that have gone through the journey of climate planning under the guidance of GCoM,” she added.   

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