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Investing in cities: how can the Commonwealth act to leverage private finance?

Briefing/policy paper

Written by Judith Tyson, Claire Kumar

Image credit:Foreign & Commonwealth Office Image license:CC BY 2.0

Tackling climate change requires a radical restructuring of cities’ carbon footprint and rapid implementation of adaptation measures. However, there is a huge gap in finance needed to address these challenges.

The Commonwealth Heads of Government Meeting being held in Kigali, Rwanda in June 2022 - with its theme 'Delivering A Common Future: Connecting, Innovating, Transforming' - provides an ideal platform for discussing innovative and collaborative action by the Commonwealth on how to support the mobilisation of private finance for green cities.

Current policy initiatives to improve cities’ access to finance are delivering technical assistance, project preparation facilities and guarantees. To date, such interventions have mobilised very limited private finance for a modest number of city projects. Much more needs to be done if cities’ financing needs are to be met.

This think piece has been prepared as part of the Africa–Europe Mayors’ Dialogue with the Commonwealth Local Government Forum (CLGF).

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