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City Climate Finance Gap Fund


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Header

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City Climate Finance Gap Fund


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About

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Established in 2020, the City Climate Finance Gap Fund is a climate action trust fund that provides early-stage project preparation support to cities in developing countries. Cities play a critical role in advancing global efforts to combat climate change and while a number of cities are developing important climate action projects, many lack the resources and capacity to advance them beyond the planning stage. The City Climate Finance Gap Fund seeks to address this shortfall by providing the technical assistance needed to turn climate-focused ideas into concrete urban project proposals. The trust fund is part of the City Climate Finance Gap Fund Initiative, implemented jointly by the World Bank and the European Investment Bank in partnership with GIZ and several other partners.


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At a glance

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Total funds contributed:

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105

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million

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48

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of which €

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managed by the EIB

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39

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million

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Donors financing approved

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60

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cities supported


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Priority sectors

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Climate-smart urbanisation


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Urban climate resilience and adaptation



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Water and sewerage


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Urban mobility


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Energy efficient affordable housing



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Our donors

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Germany and Luxembourg are the first countries to contribute to the EIB-managed City Climate Finance Gap Fund.


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Sustainable Development Goals

Donor-financed operations through our trust funds make a direct contribution to several of the UN’s Sustainable Development Goals (SDGs). Our collective actions unlock billions of euros in investment to combat climate change, eradicate poverty and fight inequality. These are some of the global goals targeted by our trust fund. 


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Donor-funded instruments

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The EIB uses donor funds to enhance the development impact of investment projects. The City Climate Finance Gap Fund provides technical assistance and advisory services to cities.


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Eligibility

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Cities in countries that are eligible for official development assistance, according to the OECD’s Development Assistance Committee list, may receive funding from the City Climate Finance Gap Fund for urban climate action projects.

They include countries in Africa, Asia, the Caribbean, the EU’s Neighbourhood, Latin America and the Pacific.


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Gap Fund overview

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This flyer provides an overview of the trust fund's activities in 2022.

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https://www.eib.org/attachments/publications/20230044_city_climate_gap_fund_en.pdf

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Key publications

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Press releases

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Gap Fund initiative

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Financing Energy for Low-carbon Investment - Cities Advisory Facility (FELICITY)

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The City Climate Finance Gap Fund: EIB Annual Reports