Financing for Delivering Results and Impact: Municipal Development Funds as Catalysts in Effective Implementation of the New Urban Agenda

The New Urban Agenda highlights the need for a joint effort between local and national governments, international development assistance agencies, public institutions and private sector and investors to implement efficient and innovative mechanisms allowing local, metropolitan and regional governments (LMRGs) to commit in appropriately financing urban development, using the whole range of funding strategies and opportunities (through better seizing opportunities of endogenous and exogenous resources). Following the mobilization of local and regional elected officials and their networks, and their technical and financial partners in the framework of international and regional meetings, Local Financing Institutions (LFIs) (such as Municipal Development Funds, and Subnational Pooled Financing Mechanisms-SPFMs) have been identified as strategic actors in the debates, and in the drafting of proposals for operational approaches to strengthen the performance of sustainable development and local financing agendas. This is why LFIs and partners are now launching a Global Forum in order to strengthen, adapt, rethink and renew themselves to better tune the performance of their action to the realities of a changing environment, and the implementation of the international agreements, particularly in developing and least development countries contexts. The side event takes stock of the conclusions of the Addis Ababa Action Agenda, the 2030 Sustainable Development Agenda and its 17 SDGs, COP 21 Paris Agreement, and the Mexico City Declaration “Localizing finance for inclusive change” that have placed urban financing and local, metropolitan and regional governments (LMRGs) in the foreground of international negotiations and agreements for the implementation of concerted and renewed policies for sustainable development. The panelists will set an operational discussion to identify cooperation strategies and initiatives between different development institutions and players towards the implementation of the New Urban Agenda through Local Financing Institutions’ (LFIs) action, and their Global Forum, based on the policy paper FMDV will be launching.