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Cities Face Huge Climate Finance Gap, MDBs Struggle to Address Gap
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Cities, especially low-income ones, are facing a huge climate finance gap, receiving only 1% of the required $5.4 trillion per year. Multilateral development banks (MDBs) have allocated $62 billion, but more concessional funding is needed to address the gap.
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How can multilateral development banks increase their allocation of funding for urban-related climate projects?
What are some strategies that the Cities Climate Finance Leadership Alliance (CCFLA) suggests to address the climate finance gap?
What are the potential consequences of the climate finance gap for cities?
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