Turning resilient low-carbon ideas into strategies and finance-ready projects

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fullscreen; picture-in-picture" allowfullscreen="" frameborder="0" height="650" src="https://player.vimeo.com/video/865879360?h=c03839d44e" width="100%"></iframe></p> <h4>The Gap Fund helps cities in developing and emerging countries realize their climate ambitions, turning low-carbon, climate-resilient ideas into strategies and finance-ready projects.</h4> <p>In an environment where resources and expertise are limited, the Gap Fund supports cities and local governments in preparing and prioritizing climate-smart plans and investments with the goal of attracting more financing and support for implementation.</p> <h4><a class="arrow-right" href="/node/3" title="What we offer">What we offer</a></h4> <h4><a class="arrow-right" href="/apply-for-support" title="Apply for Support">Apply for Support</a></h4> </div> </div> </div> </div> <div class="paragraph-id-81 py-4 lg_py-8 xl_py-12 paragraph paragraph--type--text paragraph--view-mode--default" style="background:#DFF1F2;"> <div class="paragraph-content container"> <div class="row"> <div class="offset-lg-1 col-lg-10 field field--name-field-text-body field--type-text-long field__item"> <div class="row mb-4 md_mb-6 lg_mb-10 xl_mb-12"> <div class="field field--name-field-text2col-top field--type-text-long col-12 field__item"> <h2 class="text-align-center">The Gap Fund at a glance</h2> </div> </div> <div class="text-align-center"><iframe frameborder="0" height="600" src="https://map.eib.org/citygapfund-map/index.html" width="100%"></iframe></div> </div> </div> </div> </div> <div class="paragraph-id-76 py-4 lg_py-8 xl_py-12 paragraph paragraph--type--text2col paragraph--view-mode--default" style="background:#DFF1F2;"> <div class="paragraph-content container"> <div class="row mb-4 md_mb-6 lg_mb-10 xl_mb-12"> <div class="col-lg-6 offset-xl-1 col-xl-5 field mb-4 md_mb-0 field--name-field-text2col-left field--type-text-long col-12 col-md-6 field__item"> <div class="text-align-center" style="padding: 30px !important; background-color: #05a880; border-radius: 30px; color: #fff;"><span class="text-align-center">Over</span> <span style="font-size: 54px; font-weight: 600;">400</span> <p class="text-align-center">Expressions of Interests<br /> received and analysed</p> </div> </div> <div class="col-lg-6 col-xl-5 field field--name-field-text2col-right field--type-text-long col-12 col-md-6 field__item"> <div class="text-align-center" style="padding: 30px !important; background-color: #05a880; border-radius: 30px; color: #fff;"><span class="text-align-center">Over</span> <span style="font-size: 54px; font-weight: 600;">180</span> <p class="text-align-center">Cities Supported<br /> across 67 countries</p> </div> </div> </div> </div> </div> <div class="paragraph-id-77 py-4 lg_py-8 xl_py-12 paragraph paragraph--type--text2col paragraph--view-mode--default"> <div class="paragraph-content container"> <div class="row mb-4 md_mb-6 lg_mb-10 xl_mb-12"> <div class="field field--name-field-text2col-top field--type-text-long col-12 field__item"> <h2 class="text-align-center">Our mission</h2> </div> </div> <div class="row mb-4 md_mb-6 lg_mb-10 xl_mb-12"> <div class="col-lg-4 offset-lg-1 field mb-4 md_mb-0 field--name-field-text2col-left field--type-text-long col-12 col-md-6 field__item"> <h4>Implemented by the <a href="https://www.worldbank.org/en/topic/urbandevelopment" target="_blank" title="World Bank">World Bank</a> and <a href="https://www.eib.org/" target="_blank" title="EIB">European Investment Bank</a>, the City Climate Finance Gap Fund aims to help bridge the urban financing gap to achieve low carbon, climate resilient urbanization pathways.</h4> <h4><a class="arrow-right" href="/node/3" title="What we offer">What we offer</a></h4> </div> <div class="col-lg-6 field field--name-field-text2col-right field--type-text-long col-12 col-md-6 field__item"> <p>Cities are key to creating a climate-smart future. Over half the globe lives in cities, generating 80% of its total economic output and accounting for 70% of global CO2 emissions. While urbanization is a key driver of growth – unplanned, rapid urbanization and urban sprawl present a huge risk for increasing both greenhouse gas and vulnerability to climate change and other shocks.</p> <p>Many developing countries are urbanizing faster than at any point in history. Africa’s urban land cover is predicted to increase by 700% between 2000 and 2030.</p> <p>As many cities and local governments take steps to become low-carbon and climate-resilient, they face barriers in accessing finance as well as difficulties in planning and project preparation, due to insufficient capacity or resources — particularly in the early stages of the project cycle. An estimated <a href="http://newclimateeconomy.report/2016/wp-content/uploads/sites/4/2014/08/NCE_2016Report.pdf" target="_blank">$93 trillion of sustainable infrastructure needs to be built by 2030</a>, and up to $4.5 trillion will be for project preparation.</p> </div> </div> </div> </div> <div class="paragraph-id-78 py-4 lg_py-8 xl_py-12 paragraph paragraph--type--text paragraph--view-mode--default" style="background:#DFF1F2;"> <div class="paragraph-content container"> <div class="row"> <div class="offset-lg-1 col-lg-10 field field--name-field-text-body field--type-text-long field__item"> <p><strong>The opportunity is now. Urbanization and the COVID response provide a once-in-a-lifetime opportunity to plan, develop, build, and manage cities that are simultaneously more ecologically and economically sustainable. </strong></p> <p><strong>The City Climate Finance Gap Fund comes at a critical juncture in time where we face overlapping crisis a: devastating global pandemic, a historic economic downturn, and a warming planet.</strong></p> </div> </div> </div> </div> <div class="paragraph-id-79 py-4 lg_py-8 xl_py-12 paragraph paragraph--type--text-image paragraph--view-mode--default" style="background:#DFF1F2;"> <div class="paragraph-content container"> <div class="row"> <div class="col-lg-6 offset-xl-1 col-xl-5 clearfix text-formatted field field--name-field-text-image-body field--type-text-long field--label-above field__item"> <p>Cities house high concentrations of people and assets, and as a result they bear the brunt of climate, economic and health shocks. COVID-19 hit cities harder than anywhere else, with over 95% of all confirmed cases. Vulnerable communities in densely populated informal settlements have a hard time rebounding from all types of shocks.</p> <p>Global, national and local leaders, dwellers and financiers need to take this opportunity to reflect on how to plan, rebuild and reimagine cities to provide a healthy, vibrant and green future.</p> <p>To learn more about how the Gap Fund support can help your city to address climate change and sustainable urban development please see <a href="https://www.citygapfund.org/sites/default/files/2023-08/gap-ar22-consolidated-07-080923.pdf" rel=" noopener" target="_blank">here</a>. </p> </div> <div class="col-lg-6 col-xl-5 field field--name-field-text-image-img field--type-image field--label-above field__item"> <img src="/sites/default/files/field_text_image_img/2021-09/covid-response.jpg" width="701" height="467" alt="COVID-19 hit cities harder than anywhere else" title="COVID-19 hit cities harder than anywhere else" typeof="foaf:Image" /> </div> </div> </div> </div> <div class="paragraph-id-80 py-4 lg_py-8 xl_py-12 paragraph paragraph--type--text paragraph--view-mode--default"> <div class="paragraph-content container"> <div class="row"> <div class="offset-lg-1 col-lg-10 field field--name-field-text-body field--type-text-long field__item"> <p class="text-align-center">The City Climate Finance Gap Fund (Gap Fund) is supported by <a href="https://www.bundesregierung.de/breg-en/federal-government/ministries/ministry-for-economic-affairs-and-climate-action" target="_blank">Federal Ministry for Economic Affairs and Climate Action of Germany (BMWK)</a> and <a href="https://www.bmz.de/en/" target="_blank">Federal Ministry of Economic Cooperation and Development of Germany (BMZ)</a>, as well as <a href="https://mecdd.gouvernement.lu/en.html" target="_blank">Luxembourg’s Ministry of the Environment, Climate and Sustainable Development</a>. Other partners include the <a href="https://www.globalcovenantofmayors.org/" target="_blank">Global Covenant of Mayors (GCoM)</a>, <a href="https://www.citiesclimatefinance.org/2021/04/project-preparation-practitioners-forum-in-mexico/?utm_source=rss&utm_medium=rss&utm_campaign=project-preparation-practitioners-forum-in-mexico" target="_blank">the Cities Climate Finance Leadership Alliance (CCFLA)</a> and city networks including <a href="https://www.iclei.org/" target="_blank">ICLEI Local Governments for Sustainability (ICLEI)</a> and <a href="https://www.c40.org/" target="_blank">C40 Cities Climate Leadership Group</a>.</p> <p class="text-align-center">The Gap Fund is implemented by the <a href="https://www.worldbank.org/en/topic/urbandevelopment" target="_blank">World Bank (WB)</a> and <a href="https://www.eib.org/en/index.htm" target="_blank">European Investment Bank (EIB)</a>, in partnership with the <a href="https://www.giz.de/en/html/index.html" target="_blank">Deutsche Gesellschaft für internationale Zusammenarbeit (GIZ)</a>.</p> </div> </div> </div> </div> </div> </div> </article> </div> </main> <div class="region py-4 lg_py-8 xl_py-12 region-footer-top"><div class="container"><div id="block-partnerslogo" class="settings-tray-editable block--type-partnerlogo block text-align-center block-block-content block-block-content89778098-ab95-4471-b52d-1ee9980c5bf5" data-drupal-settingstray="editable"> <h3>Partners</h3> <div class="field row items-center justify-center field--name-field-partnerlogo-row1 field--type-image-link field__item"> <div class="col-12 col-sm-6 col-lg-3 py-4 lg_py-8"> <div class="image-link-image"> <a href="https://www.eib.org/en/index.htm" rel="0" target="0"><img src="/sites/default/files/field_partnerlogo_row1/2023-02/logo-eib-hori_0.png" width="300" height="60" alt="European Investment Bank (EIB)" title="European Investment Bank (EIB)" typeof="foaf:Image" /> </a> </div> </div> <div class="col-12 col-sm-6 col-lg-3 py-4 lg_py-8"> <div 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src="/sites/default/files/2023-05/federal-ministry-for-economic-affairs-and-climate-action%20%281%29.png" width="230" height="114" alt="Germany’s Federal Ministry for Economic Affairs and Climate Action" title="Germany’s Federal Ministry for Economic Affairs and Climate Action" typeof="foaf:Image" /> </a> </div> </div> <div class="col-12 col-sm-6 col-lg-3 py-4 lg_py-8"> <div class="image-link-image"> <a href="https://mecdd.gouvernement.lu/en.html" rel="0" target="0"><img src="/sites/default/files/2020-08/2__3__GOUV.png" width="300" height="76" alt="Luxembourg’s Ministry of the Environment, Climate and Sustainable Development" title="Luxembourg’s Ministry of the Environment, Climate and Sustainable Development" typeof="foaf:Image" /> </a> </div> </div> </div> <div class="field row items-center justify-center field--name-field-partnerlogo-row3 field--type-image-link field__item"> <div class="col-12 col-sm-6 col-lg-3 py-4 lg_py-8"> <div class="image-link-image"> <a href="https://www.globalcovenantofmayors.org/" rel="0" target="0"><img src="/sites/default/files/2020-08/3__1__GCOM.png" width="231" height="80" alt="Global Covenant of Mayors (GCoM)" title="Global Covenant of Mayors (GCoM)" typeof="foaf:Image" /> </a> </div> </div> <div class="col-12 col-sm-6 col-lg-3 py-4 lg_py-8"> <div class="image-link-image"> <a href="https://www.giz.de/en/html/index.html" rel="0" target="0"><img src="/sites/default/files/2020-08/3__2__GIZ.png" width="300" height="78" alt="Deutsche Gesellschaft für internationale Zusammenarbeit (GIZ) " title="Deutsche Gesellschaft für internationale Zusammenarbeit (GIZ) " typeof="foaf:Image" /> </a> </div> </div> <div class="col-12 col-sm-6 col-lg-3 py-4 lg_py-8"> <div class="image-link-image"> <a href="https://www.citiesclimatefinance.org/" rel="0" target="0"><img src="/sites/default/files/2021-08/ccfla_0.JPG" width="255" height="114" alt="Cities Climate Finance Leadership Alliance" title="Cities Climate Finance Leadership 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