Towards a UCLG Strategy on Localizing Financing for Sustainable Urbanization

Towards a UCLG Strategy on Localizing Financing for Sustainable Urbanization

The UCLG Executive Bureau, which met in Strasbourg on 25 May 2018, agreed on the development of a UCLG strategy aimed at placing local authorities at the heart of the mobilization of finance for sustainable urbanization. The Global Fund for Cities Development – FMDV will be integrated into the CLGU family to accompany the implementation of this strategy.

Several priorities work streams have been identified and these are the following:

1. The mapping of initiatives, mechanisms and tools developed within UCLG in support of the localizing of financing, in order to build on the experience and set priorities for future action.

2. The establishment of a community of practice bringing together elected officials in charge of finance in local authorities who wish to exchange their experience, contribute directly to the development of the strategy and share its progress with UCLG's political councils.

3. The setting-up of a Global Partnership for localizing financing, a coalition of political and institutional actors at the international level called upon to build common positions and work on joint programmes.

4. The preparation of a Global Campaign on localizing financing, an 'advocacy for action' initiative.

5. In collaboration with the United Nations Capital Development Fund (UNCDF), the establishment of a municipal investment fund to support the formulation and contribute to the financing of innovative municipal investment projects to be submitted for financing to national banks and/or capital markets.

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