Closing 2023 with Denmark and Spain as new UMDF contributors

In 2023, with the five-years mission extension, the Fund experienced a significant progress in its funding: global contributions surged from USD 5.3 million to USD 53.5 million for the 2023 - 2027 period.

Between December 2022 and December 2023, the NDF contribution escalated from USD 4.5 million to USD 9.9 million, while the Swiss State Secretariat for Economic Affairs (SECO) contribution increased from USD 200,000 to USD 3.8 million.

Additionally, two new significant contributors joined the Fund:

- The Danish Ministry of Foreign Affairs approved a donation of USD 32 million (DKK 220 million), of which USD 8.4 million were disbursed to the Fund in December 2023.

- The Spanish Ministry of Economy, Trade and Enterprise has allocated a funding envelope of 5.25 million.

These funds will be used to scale up the Fund's programs in pursuit of its objectives:

Improved governance

By 2027 we will train over 750 municipal staff on innovative, green and resilient urban development, and help cities to improve their financial management and creditworthiness to access finance and investment by themselves.

---------

Improved urban planning

Over the course of the next five years, we will support 40 cities through our African Cities Program

---------

Improved urban infrastructure and essential services

By 2027, 70 investment projects are expected to be supported, mobilizing over $US 2bn of investments and reaching more than 55 million people.