EU and UNDP launch Innovative Finance Challenge to help municipalities unlock new financing opportunities

The United Nations Development Programme (UNDP), through the EU-funded Mayors for Economic Growth (M4EG) Facility, is launching a new Call for Interest for the Innovative Finance Challenge (IFC). The initiative will support municipalities in Armenia, Moldova, North Macedonia and Ukraine in designing and implementing innovative financing solutions to address local development challenges. The call is also supported by the City Experiment Fund (CEF), funded by the Ministry of Finance of the Slovak Republic. The IFC will provide cities with technical and financial (up to US$20,000 per city) support to test and implement innovative financing mechanisms tailored to their local needs.