About
Established in 2020, the City Climate Finance Gap Fund is a climate action trust fund that provides early-stage project preparation support to cities in developing countries. Cities play a critical role in advancing global efforts to combat climate change and while a number of cities are developing important climate action projects, many lack the resources and capacity to advance them beyond the planning stage. The City Climate Finance Gap Fund seeks to address this shortfall by providing the technical assistance needed to turn climate-focused ideas into concrete urban project proposals.
The trust fund is part of the City Climate Finance Gap Fund Initiative is implemented jointly by the World Bank and the European Investment Bank in partnership with GIZ and several other partners. It has already raised a total amount of €105 million in donor commitments.
At a glance
The City Climate Finance Gap Fund help cities to take climate action.
Donor funds committed
Donors financing approved
cities supported
Priority sectors
Climate-smart urbanisation
Urban climate resilience and adaptation
Water and sewerage
Urban mobility
Energy efficient affordable housing
Our donors
Germany and Luxembourg are the first countries to contribute to the EIB-managed City Climate Finance Gap Fund.
Sustainable Development Goals
Donor-financed operations through our trust funds make a direct contribution to several of the UN’s Sustainable Development Goals (SDGs). Our collective actions unlock billions of euros in investment to combat climate change, eradicate poverty and fight inequality. These are some of the global goals targeted by our trust fund.
Donor-funded instruments
The EIB uses donor funds to enhance the development impact of investment projects. The City Climate Finance Gap Fund provides technical assistance and advisory services to cities.
Eligibility
Cities in countries that are eligible for official development assistance, according to the OECD’s Development Assistance Committee list, may receive funding from the City Climate Finance Gap Fund for urban climate action projects.
They include countries in Africa, Asia, the Caribbean, the EU’s Neighbourhood, Latin America and the Pacific.
Key publications
Trust funds in action
Resources for development finance are limited. Find out how EIB Global works with 12 trust funds to increase amounts available, support a wide variety of projects and make a positive impact.
Gap Fund overview
This flyer provides an overview of the trust fund's activities in 2023.
The City Climate Finance Gap Fund
The City Climate Finance Gap Fund, or the Gap Fund, supports cities with early-stage technical assistance for low-carbon, climate-resilient urban development plans and projects.