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TURNING RESILIENT LOW-CARBON IDEAS INTO STRATEGIES AND FINANCE-READY PROJECTS

THE GAP FUND HELPS CITIES IN DEVELOPING AND EMERGING COUNTRIES REALIZE THEIR
CLIMATE AMBITIONS, TURNING LOW-CARBON, CLIMATE-RESILIENT IDEAS INTO STRATEGIES
AND FINANCE-READY PROJECTS.

In an environment where resources and expertise are limited, the Gap Fund
supports cities and local governments in preparing and prioritizing
climate-smart plans and investments with the goal of attracting more financing
and support for implementation.

WHAT WE OFFER

APPLY FOR SUPPORT


THE GAP FUND AT A GLANCE


Over 400

Expressions of Interests
received and analysed

Over 180

Cities Supported
across 67 countries


OUR MISSION

IMPLEMENTED BY THE WORLD BANK AND EUROPEAN INVESTMENT BANK, THE CITY CLIMATE
FINANCE GAP FUND AIMS TO HELP BRIDGE THE URBAN FINANCING GAP TO ACHIEVE LOW
CARBON, CLIMATE RESILIENT URBANIZATION PATHWAYS.

WHAT WE OFFER

Cities are key to creating a climate-smart future. Over half the globe lives in
cities, generating 80% of its total economic output and accounting for 70% of
global CO2 emissions. While urbanization is a key driver of growth – unplanned,
rapid urbanization and urban sprawl present a huge risk for increasing both
greenhouse gas and vulnerability to climate change and other shocks.

Many developing countries are urbanizing faster than at any point in history.
Africa’s urban land cover is predicted to increase by 700% between 2000 and
2030.

As many cities and local governments take steps to become low-carbon and
climate-resilient, they face barriers in accessing finance as well as
difficulties in planning and project preparation, due to insufficient capacity
or resources — particularly in the early stages of the project cycle. An
estimated $93 trillion of sustainable infrastructure needs to be built by 2030,
and up to $4.5 trillion will be for project preparation.

The opportunity is now. Urbanization and the COVID response provide a
once-in-a-lifetime opportunity to plan, develop, build, and manage cities that
are simultaneously more ecologically and economically sustainable.

The City Climate Finance Gap Fund comes at a critical juncture in time where we
face overlapping crisis a: devastating global pandemic, a historic economic
downturn, and a warming planet.

Cities house high concentrations of people and assets, and as a result they bear
the brunt of climate, economic and health shocks. COVID-19 hit cities harder
than anywhere else, with over 95% of all confirmed cases. Vulnerable communities
in densely populated informal settlements have a hard time rebounding from all
types of shocks.

Global, national and local leaders, dwellers and financiers need to take this
opportunity to reflect on how to plan, rebuild and reimagine cities to provide a
healthy, vibrant and green future.

To learn more about how the Gap Fund support can help your city to address
climate change and sustainable urban development please see here. 



The City Climate Finance Gap Fund (Gap Fund) is supported by Federal Ministry
for Economic Affairs and Climate Action of Germany (BMWK) and Federal Ministry
of Economic Cooperation and Development of Germany (BMZ), as well
as Luxembourg’s Ministry of the Environment, Climate and Sustainable
Development. Other partners include the Global Covenant of Mayors (GCoM), the
Cities Climate Finance Leadership Alliance (CCFLA) and city networks
including ICLEI Local Governments for Sustainability (ICLEI) and C40 Cities
Climate Leadership Group.

The Gap Fund is implemented by the World Bank (WB) and European Investment Bank
(EIB), in partnership with the Deutsche Gesellschaft für internationale
Zusammenarbeit (GIZ).


PARTNERS






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