Local and regional governments are at the forefront of climate action and yet suffer from access to adequate financial resources inversely proportional to their role and mandate.
The first step, which consists in preparing and presenting bankable projects to public and private investors, is a challenge for the vast majority of them, especially on the continent.
What dynamics, strategies, programs and instruments exist today to ensure their access to the wide range of climate finance resources?
To fill these gaps, it would not only be necessary to increase public and private investment flows for local climate infrastructures, but also create the conditions for local and regional governments to develop bankable projects, and access and manage these sources of financing.
In this perspective, local elected officials, donors, and institutions, proposing innovative instruments to mobilize climate finance, will gather to discuss the issue.
More specifically, the Subnational Climate Finance Expertise Program (PEFCLI) will be introduced as per the initiative of the Direction General for Local Governments in the Ministry of Interior of the Kingdom of Morocco, in partnership with the Global Fund for Cities’ Development - FMDV, and with the support of the National Associations of Mayors (AMPCC) and of Governors (ARM). This program, the first of its kind, aims to align local action and the chain of climate finance resources at national and international, public and private levels.
The Moroccan instrument for climate expertise and knwoledge sharing, 4C, will also be presented in its capacity to support capacity building and dissemination of solutions for a low-carbon transition.
Other complementary tools and dynamics will be presented by partners, in particular supported by the MAVA Foundation: Climate and sustainable infrastructure financing trainings by Climate KIC and Bankers Without Borders, the "Smart Scan" of the GIB Foundation which makes it possible to consider, at a glance, the sustainability of a project, and the margins of progress to make it eligible for climate finance.
The opinion of Stock Exchanges, such as Casa Finance City Authority, will also be discussed on the transformation of investments towards sustainable Climate projects and the awareness (and action taking) of investors for a climate-compatible international finance.
This session will:
- Sensitize the representatives of the local and regional governments on the new financial instruments dedicated to the localization of climate finance
- Promote existing good practices in terms of climate financial instruments, and exchange experience between local elected representatives in the field of planning, defining, financing, and implementing local adaptation and mitigation projects