MONTEVIDEO, Uruguay – The Government of Austria through the Federal Ministry of Finance provided one million euros ($1.2 million) to a multidonor trust fund administered by the Inter-American Development Bank (IDB) to promote initiatives in sustainable emerging cities in Latin America and the Caribbean.
With this contribution, Austria has become the first country to join the IDB´s multidonor fund under its Sustainable Emerging Cities Platform. The fund was created to improve the quality of life in emerging cities in IDB borrowing member countries in the areas of environmental sustainability and climate change, sustainable urban development, governance and fiscal sustainability.
Austria´s contribution to the fund may finance activities in areas such as climate change instruments, assessments and action plans, studies for the formulation and preparation of projects, systems for monitoring sustainability in the cities, knowledge sharing and best practices, and evaluation and supervision.
The IDB´s Office of Outreach and Partnerships has facilitated this agreement to provideadditional support to itsmember countries, serving as a platform for cooperation in important cities in the region.
- Christina MacCulloch