Other key players in the fund include C40 cities, ICLEI - Local Governments for Sustainability, and the Cities Climate Finance Leadership Alliance (CCFLA). Read MoreNevertheless, the bank said Gap Fund was here to support city and local governments facing barriers to financing climate-smart projects. "Climate investment projects are an indispensable opportunity to improve lives of the millions who live in cities around the world. Core donors to the Gap Fund are Germany at Sh5.7 billion and Luxembourg at Sh1.3 billion. The initiative was first mooted at the UN Climate Action Summit last year by the Leadership for Urban Climate Investment (LUCI) which promotes financing for ambitious urban climate action until 2025.

Source: Standard Digital September 30, 2020 06:01 UTC