Exceptional Events

EVT 3 - Meeting of the founding members if the Africa Cities Development Fund

21 Nov

21 November

14:30 to 17:30

Venue: Nador


United Cities and Local Governments of Africa

Tel: +212(0)537 260 062

Email: info@uclga.org

Web: https://www.uclga.org/


African cities and local authorities intend to make a significant contribution to the African Union's Agenda 2063. To this end, African cities will need to invest about $25 billion a year to welcome, in good conditions, an additional 450 million people by 2030, while filling the accumulated deficit in equipment and infrastructure. Such financial volumes are much higher than the current instantaneous savings of local authorities, even supplemented by funds allocated by national governments for local investment. On the other hand, debt service capacities are constantly growing and make it possible to consider raising significant resources on the financial markets. Therefore, the creation of a financial vehicle is necessary in order to mobilize the necessary funding to reach the required level, if local and regional authorities are to contribute to the AU Agenda 2063. The session aims to define the conditions for African local authorities to create the Fund for the Development of African Cities and Territories (FODEVA), a financial vehicle dedicated to financing urban infrastructure, facilities and services. The objectives of the session are:
  1. Mobilize and sensitize African local and regional authorities on the interest of FODEVA
  2. Mobilize and sensitize African financial institutions on the interest of FODEVA
  3. Establish the Club of the first local and regional authorities that founded the FODEVA
  4. Define a roadmap for the next institutional steps in the implementation of FODEVA





Parallel Sessions