The United Nations Capital Development Fund (UNCDF) and LTIIA founder Meridiam signed an agreement framing their collaboration in relation to the International Municipal Investment Fund. This unique investment vehicle with a particular focus on developing countries, is part of The Urban Resilience Fund launched by Meridiam together with The Rockefeller Foundation. It will help develop, finance, build and operate sustainable and economically sound urban infrastructure projects intending to play a critical role adapting to climate change in cities.
IMIF is a blended finance fund, leveraging concessional and commercial capital to increase the financing capacity available for new urban infrastructure projects. It provides cities with unique support for the development and delivery of essential urban resilience infrastructure.
“This agreement is a further step towards our global ambition to meet the critical need for urban infrastructure that is sustainable, affordable and prepared for long term climate change while contributing to the resilience of cities.” said Thierry Deau, Founder and CEO of Meridiam.
The fund will be leveraged as a tool of the Malaga Coalition, which was launched in 2019 by UNCDF, UCLG and its technical partner, the Global Fund for Cities Development (FMDV). The goal of the Malaga Coalition is to lead in the advocacy, creation and support of a global financial ecosystem that works for cities and local governments, which are crucial for sustainable development and our collective future. The fund will provide one such driver towards accelerating Agenda 2030 by increasing available investment for SDG-oriented projects at the local level.