The United Nations Capital Development Fund (UNCDF) recently signed an MoU to finance a green public lighting project in Morocco.
With the help of the International Municipal Investment Fund Technical Assistance Facility (IMIF TAF), UNCDF has created a global financing mechanism for the SDG Cities program to help local governments better address major urbanization-related challenges by gaining access to sustainable sources of capital finance. This will introduce contemporary lighting options to most secondary cities in Morocco
The SDG Cities program intends to use local government assets to mobilize public and private investment. While assisting local governments in switching from traditional grant funding to an expanded mix of financial sources to tackle issues. UCLG and UNCDF together announced a highly competitive call for ideas for the IMIF TAF. As a result, Chefchaouen’s project on public lighting was chosen as the winner.
The city of Chefchaouen hopes to complete the modernization of its public lighting network with the help of this project. This includes investments in electrical cabinets, streetlights, and cables for compliance and safety, investments in energy efficiency, by switching to low-energy LED lamps and other energy-saving equipment, and priority investments in LED lamps. As well as modern lighting columns for Hassan II Avenue.
The green public lighting project is to be scaled up on a regional and national level
The municipality incurs no costs for this project. All reimbursements will come from the fund saved on public lighting. Above all, this partnership’s creative approach is intended to be scaled up on a regional and national level and reproduced in other communities.
Moroccan partners will establish and provide funding for a revolving fund. The majority of Morocco’s secondary cities will now have access to contemporary lighting systems.
On Wednesday, the municipality and UNCDF officially signed their first finance deal. Which is a significant step toward achieving one of the Malaga coalition’s five goals of creating a global financial system. These goals will therefore benefit cities and local governments and are essential to achieving the world’s agendas.
David Jackson, UNCDF Director for Local Development Finance said, “For UNCDF, supporting local government involves more than a one-time contribution. Additionally, it also involves the investment’s catalytic, transformative effects.”
Mayor of Chefchaouen, Mohammed stated, “This program is an excellent example of the need for people to access funding easily. However, many Moroccan cities need to develop the green public lighting project.