Financial flows are nowhere near the levels needed to meet the Paris Agreement, specifically for local authorities. Critical issues include limited credit worthiness of cities, difficulties in the funding of adaptation measures, accessing loans, setting up PPPs’, and ensuring efficient implementation of municipal projects.
The gap is large, and instruments to support municipalities are rare & complex, and thus it is primordial to propose tailored funding modes and climate actions at local levels
Both the use of SEACAPs as climate projects’ funding tool and other tools prepared by the Clima-Med project and the Local Climate Adaptive Living Facility (LoCAL), can factually help increase the flow of climate finance and in parallel, can help increase funding capacities of local governments.
This session will discuss how to unlock much-needed funding in the South Mediterranean region and will take the example of two initiatives that have been or will be implemented in the region.
Event objectives
The objective is to provide a space to discuss practical ways towards increasing climate finance and showcase the experience and tools developed by two EU-funded projects, interactively at national, regional, and local levels while applying innovative and realistic funding modalities.
The event will be an opportunity for stakeholders from the South Mediterranean to engage in forward-looking exchanges and be inspired to act towards increasing the climate resilience of their cities or other regional/local entities.
