New fund aims to leverage €4bn to close cities’ climate finance gap

By Phil Thornton
25 Sep 2020

A €100m fund launched this week aims to leverage as much as €4bn from private investors and other sources to close a financing gap cities face in implementing infrastructure projects to tackle climate change.

The governments of Germany and Luxembourg have injected €45m and €10m respectively into the City Climate Finance Gap Fund that will be overseen by the European Investment Bank and World Bank Group.

With a target capitalisation of at least €100m, the gap fund will accelerate investments supporting cities ...

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