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The Covenant of Mayors supports access to financing through new working group
The Covenant of Mayors supports access to financing through new working group
22 April 2014 - 16:48

To assist municipalities in finding ways to finance their sustainable energy initiatives, the Covenant of Mayors will soon set up a Working Group on Finance. The aim of this group is to build bridges between cities and European funding programmes, as well as other private and public finance providers, ultimately channelling more funds (beyond grants) towards municipal projects.

The Finance Working Group will contribute to increasing the capacity of qualified parties to access financing, and will provide opportunities to share best practices and gain recognition for leadership.  Addressing 'non-technical' barriers preventing otherwise economically and technically-viable investments (especially in energy efficiency) will be given special emphasis. 

An initial restricted number of Covenant Signatories and Coordinators will be invited to join this Working Group. Together with businesses and NGOs, they will work to create joint bankable projects. The tools produced will be made available to all Covenant Signatories through dedicated online materials, webinars and workshops.

The first workshop will take place on the afternoon of 23 June 2014, in Brussels. In addition to providing cities with information, the goal of this event is also to send a signal to the business sector: local authorities do have bankable projects that are worth investing in. The event will also provide participants with opportunities to exchange ideas on designing and implementing projects.

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