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Construction & EngineeringChina Development Bank releases $255m for Nigeria rail project
MacDonald Dzirutwe 9 Jan 2025





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The workshop emanated from a conference, Funding African cities: agenda, alliances and solutions', held in Marrakech in November 2014 at which members of UCLG Africa agreed to establish a financial vehicle dedicated to the funding of African cities. The fund aims to enable cities to issue bonds on national and international capital markets.
The workshop brought together twenty high-level experts including specialists in fundraising on the financial markets, officials from development banks and funds, asset managers from international private banks, officials of rating agencies, and representatives of national and local administrations.
The exchange of views and experiences and the contributions of participants helped to establish that:
1. Define the structure of the capital.
2. Define the risk portfolio.
3. Cooperate with existing national tools.
4. Present the benefits of the vehicle.
5. Involve central governments to obtain their non-objection opinion.
6. Produce an information note on the vehicle.
7. Prepare and organise a communication campaign and a road show for the vehicle.
The intention is to finalise this roadmap in order to present the African Cities Development Fund as a vehicle of credible funding at the 2018 Africities Summit.