UfM Secretariat Headquarters in Barcelona, 10 June 2015
The Third Meeting of the UPFI Project Committee will gather all the Urban Project Finance Initiative (UPFI) partners, namely, the UfM Secretariat, the European Commission, the Agence Française de Développement (AFD), the European Investment Bank (EIB), the German KFW, the Caisse des Dépôts (CDC), the as well as various international financial institutions under a new observer status such as the European Bank for Reconstruction and Development (EBRD), and the Government of Finland.
The Committee will, among other items, review progress and agree on the next steps with regards to project preparation which will allow them to acquire the maturity necessary to meet the financing standards of the international financial institutions and receive the UfM label.
UPFI is one of the pillars of the Euro-Mediterranean Sustainable Urban Development Strategy, as stated in the declaration of the First Ministerial Conference of the Union for the Mediterranean (UfM) on sustainable urban development held in Strasbourg on 10 November 2011.
The initiative sets a positive example as it is a process of cooperation, identification and preparation of projects that may potentially be labelled by the UfM, and that can therefore be supported by major financial institutions. The UfM has decided to sponsor this initiative backed by IFIs and donors as it meets the requirement of promoting innovative, sustainable and exemplary projects in the Mediterranean region.
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