Urban Projects Finance Initiative is underway
Barcelona, 9 November 2012. The kick-off meeting of the Urban Projects Finance Initiative (UPFI) was hosted by the UfM Secretariat on Friday, 9November 2012 in Barcelona. The UPFI Initiative isco-ordinated by the French Development Agency (AFD) and the European Investment Bank (EIB), and it counts on the support of the European Commission.
The UPFI Initiative is the second pillar of the UfM Euro-Mediterranean Sustainable Urban Development Strategy. The financing for the first phase on the Project Identification Study has already been secured by AFD and EIB. The second phase on the Technical Assistance Program received the NIF Board’s final approval for the financing on 19 October 2012.
The Project Identification Study was launched during the meeting in the presence of representatives of the UfM Transport and Urban Development Division, AFD, EIB, the German KFW Banking group, and the Caisse de Dépots. The Study is expected to be concluded in June 2013.
The Steering Committee Meetings to follow-up the results of the study process will be held in Barcelona and chaired by the UfM. The series of meetings will be attended by EIB, AFD, DEVCO, the KfW Banking group, the Caisse des Dépots as well as by some other International Financial Institutions interested in collaborating. The first of these meetings is foreseen to take place on 13 December 2012.
Read More
UfM Euro-Mediterranean Sustainable Urban Development Strategy moves forward
