On 14 November, the Cities and Regions Hub will kick off the Thematic Days of Finance with a special session titled “The Urban Finance Engine: Country Platforms for Localizing Finance Powered by National and Subnational Development Banks”. This event, also as part of the COP30 Presidency’s Action Agenda official program, will bring together Ministries, MDBs, NDBs, and SDBs, with COP30 High-Level Champion Dan Ioschpe opening the session at the Cities and Regions Hub.
Country Platforms for Localizing Finance (CPLFs) provide the architecture to localize climate finance and operationalize NDCs and NAPs at the subnational level. They convert national ambition into investable, city- and region-ready pipelines, embedded in the public development bank (PDB) system and value chain through domestic intermediation by national and subnational development banks (NDBs/SDBs).
On 11 November, during the roundtable “Mutirão for Financing the Implementation of NDCs 3.0 in Cities” at the Ministerial Meeting on Urbanization and Climate Change, H. E. Martin Mbeng, Ambassador of Cameroon to Brazil, officially launched the Finance Your Cities (FYC) Cameroon CPLF on the international stage. This significant milestone is supported by the FMDV, the European Union, and UCLG. Ambassador Mbeng emphasized the platform’s spirit of Mutirão, confirming, “From platform to platform, from city to city, and here in Belém, from forest to forest, Cameroon is more determined than ever to transform our collective commitments into tangible results for our people.”
Since the launch of the pilots in Cameroon and Madagascar earlier this year, FYC CPLFs have already mobilized USD 1 million for readiness and USD 10.6 million for project design, feasibility, and implementation, with 71 local and regional governments already engaged in prioritizing pipelines for resilient infrastructure, focusing on projects such as coastal resilience, reforestation, waste management, and flood-risk reduction.
COP30 Evening Summary on November 11 reported “Empowering Local Leadership for Global Climate Delivery: At the High-Level Ministerial Meeting on Urbanization and Climate Change, Brazil unveiled […] Country Platforms for Localizing Finance (CPLFs) in two pioneering African countries, Cameroon and Madagascar. Finance Your Cities CPLFs, as a project pipeline, will scale to six countries by 2028, aiming to mobilize USD 350 million and engage 200 local and regional governments.”
