The International Municipal Investment Fund

Supporting cities and local governments to accelerate the achievement of the SDGs and the Paris Agreement

The International Municipal Investment Fund (IMIF) is a unique, bespoke investment fund, initiated by UNCDF and UCLG, with the collaboration of FMDV, that is designed to focus exclusively on supporting cities and local governments, with a particular focus on developing countries, to accelerate the achievement of the SDGs and the Paris Agreement.

The target for the IMIF first closing is 350 million EUR. Investments will be sought in the transport, utilities, clean energy, waste management, land use and city planning sectors, amongst others. The IMIF invests in commercially bankable projects sponsored by municipalities which expand their fiscal space and accelerate the implementation of SDG11, SDG13 and other related SDGs.

The IMIF is designed as a municipal support fund to increase the capacity of local governments to access capital markets and through intermediaries. Following a competitive selection process, Meridiam was selected as Fund Manager for the IMIF.

Meridiam will establish, fundraise for and act as the Investment manager of the Fund. Meridiam will manage the IMIF with an objective to identify, develop and invest in resilient and sustainable infrastructure projects in urban and municipal environments of non-OECD developing countries

One of the challenges that municipalities face in the least developed countries is their ability to access capital...

Jaffer Machano, Global Programme Manager for UNCDF's Municipal Investment Finance Programme, "The solutions to unlock the municipal finance solution" Capital Musings

The IMIF aims to:

Advance the local implementation of the SDGs, with emphasis on SDG11—“make cities and human settlements inclusive, safe, resilient and sustainable” and SDG13—“take urgent action to combat climate change and its impacts;”

Meet financial return targets to ensure the long-term success of projects;

Meet a standard related to resilience and sustain ability to ensure positive impacts for local communities inline with the implementation of the Paris Agreement; and

Develop municipal capital market access to cities in developing countries.


The Blue Peace Financing Initiative


The IMIF Technical Assistance Facility


Initiated by:

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