Side-event on the development of an instrument for the funding of urban investments in Africa
On 29 May 2013, a side event on the theme “Towards a sub-national instrument for the funding of urbanization: Funding local governments, new opportunities for Africa,” was held in the framework of the 48th Annual Meetings of the African Development Bank in Marrakesh, Morocco. This side-event was co-organized by the African Development Bank (ORPC1 and OIVP departments) and UCLG Africa, with the support of the UCLG Local Finance & Development Committee (LFDC).
The side-event brought together about one hundred participants, including staff members of the AfDB departments in charge of the implementation of the bank’s urban development strategy, experts, elected officials and decision makers of local governments in Africa as well as partners engaged in the support for urban development, including rating agencies, development partners, development banks, representatives of central and local governments, and representatives of the private sector and the media.
The side-event was chaired and moderated by Mr. Jean-Pierre Elong Mbassi, Secretary General, the United Cities and Local Governments of Africa (UCLG Africa). It was marked by three highlights: (1) introductory presentations on the challenges of urbanization in Africa, AfDB proposals to take on these challenges, including through its urban development strategy, and presentation of the international experience in the area of urban investment funding, (2) A roundtable of mayors during which city officials fromvDakar, Rabat and Maputo presented their reactions to the introductory presentations and their recommendations to improve the funding of urban investments in African cities, (3) Recording of remarks and proposals from participants, including from the representatives of rating agencies, the experts from the Global Development Fund for Cities, and from the private sector.