The Steering Committee of the Technical Assistance Facility of the International Municipal Investment Fund – IMIF-TAF met for the first time in New York on 23-24 January 2020. It discussed the Terms of Reference and Standard Operating Procedures of the IMIF-TAF. It also agreed on the organisation of IMIF-TAF support to the 12 pilot cities pre-selected to benefit from the Fund.
In order to assist the cities in preparing their project documentation for submission to the International Municipal Investment Fund, UNCDF has set up a Technical Assistance Facility - IMIF-TAF. The aim of this facility is to provide technical assistance to cities to help them finalize their investment project and, where necessary, strengthen their capacity to access credit, so that their investment project can be presented to the Fund Manager, Meridiam, with the best chance of success.
This technical assistance facility is designed to support cities with investment projects of less than USD 25 million. Cities with projects above this amount will be supported directly by Meridiam to structure their project file and be able to present it to the Fund's Investment Committee.
A Committee has been set up by UNCDF to steer the implementation of this technical assistance. Chaired by UNCDF's Director of Local Development Finance, it associates UCLG and FMDV as advisory members. The role of this Committee is threefold: i) to decide on the deployment of technical assistance resources to support cities in structuring their project files, ii) to recommend the presentation of projects to the Meridiam Investment Committee, iii) to approve the work plan and annual budget of IMIF-TAF.
The Terms of Reference and Standard Operating Procedures of IMIF-TAF will be finalised by the end of the first quarter of 2020.
Five of the twelve pilot cities (Porto-Novo, Chefchaouen, Agua Grande, Kumasi and Telita) will receive priority attention. They will soon receive an appraisal mission to analyse the maturity of their project and assess their technical assistance needs. For five others (San Fernando del Valle de Catamarca, Lanus, Santa Fe de la Vera Cruz, Acapulco and Cuautla), the Committee requested additional information before committing its support. Finally, the two capital cities (Mexico City and Jakarta) with projects of over USD 25 million will be directed to Meridiam to structure their investment project directly with the Fund Manager.
Read more about UCLG Global Observatory on Local Finance.