GCoM is launching an initiative to support signatory cities in six regions with the preparation of bankable climate projects to access financing.
What is this new call about?
This new initiative from the Global Covenant of Mayors for Climate and Energy (GCoM) will provide technical support to GCoM signatory cities in the pre-feasibility stages of their projects to implement actions from their Climate Action Plans (CAPs). Through this call, GCoM signatory cities can apply to access this technical support for their projects in order to fast- track access to financing.
Who can apply?
This initiative is open to signatory cities in the following GCoM Regional/National Covenants:
- South Asia
- East Asia
- Southeast Asia
- Eastern Europe & Central Asia, including the Balkans
- Latin America & the Caribbean
- Middle East & North Africa, including Turkey
Cities’ size must be between 100,000 inhabitants and 1.5 million inhabitants.
For all eligibility criteria, you can refer to the Guidelines for applicants and the application form.
Why is it important?
Cities face important challenges in preparing projects that can access funding. This is especially true at the early stages of project development where gaps in terms of knowledge, resources and capacities are particularly important.
The goal of this initiative is to strengthen the capacity of cities to fast-track mid-stages of project development and help them identify relevant sources of financing and support to further move towards implementation.
The early stages of climate projects are a critical step for cities to be able to implement their climate action plans and reach the 2030-2050 targets. This programme will help cities develop and structure bankable projects that can reach implementation and therefore lead to tangible climate results to meet the climate goals set by the Paris Agreement.
How is this program different from other initiatives?
This program complements other project preparation facilities, such as the City Climate Finance Gap Fund, by helping cities identify their needs early in project development. The objective is to help cities strengthen their projects’ bankability to match with further relevant technical or financial assistance.
Overall, this initiative is acting as an enabler and a facilitator for cities’ climate projects to further access financing.
This programme/initiative extends the current package of GCoM training to develop Climate Action Plans in 40 cities, by addressing further the gaps towards their implementation.
What are the benefits for cities?
Through this initiative, cities will be able to further address gaps early in the process of project development in order to strengthen the projects’ bankability and participate in match-making activities with potential funders. For this purpose, best international practices and tailored-made technical guidance will be provided by GCoM’s expert team to cities to prepare bankable projects.
What is the process?
Cities can access this technical support by filling in and submitting an application form available in English, French and Spanish: