United Cities and Local Governments of Africa (UCLG Africa) organized a two-day workshop on the establishment of the African Cities Development Fund (FODEVA), October 30-31, 2017 at the Hotel Rabat in Morocco.
The workshop proceeded work that was carried out after the conference, “Funding African cities: agenda, alliances and solutions,” which was held in Marrakech, Morocco, in November 2014. At the conference, members of UCLG Africa agreed to establish a financial vehicle dedicated to the funding of African cities, termed the African Cities Development Fund (FODEVA). The Fund aims to enable cities to issue bonds on the national and international capital markets.
The workshop brought together twenty top level experts including specialists of fundraising on the financial markets; officials of development banks, funds or development banks dedicated to local governments; asset managers in international private banks; officials of rating agencies; and representatives of national and local administrations.