Global fund for cities development (FMDV) General Assembly Meeting
The Global Fund for Cities Development (FMDV) is a network that facilitates direct and autonomous access to funding for local authorities. It was set up in October 2010 as an initiative by METROPOLIS, by United Cities and Local Governments (UCLG), and by 34 founding members (cities and networks of cities). The FMDV is a network of political solidarity for the strengthening of the financial capacities of local authorities, by local authorities.
The FMDV was created out of the need for local authorities to have operational and functional assistance in the search for sustainable and viable financial solutions for the projects promoted by local authorities.
The FMDV provides technical assistance and financial engineering throughout the entire process of drawing up Urban Development projects (definition, search for finance, and organization). It facilitates access by local authorities to the financial resources that are best suited to their needs, and under the best conditions: guaranties, loans, subsidies, donations, capital markets, endogenous instruments. This dual component of technical support for Urban Development and financial engineering in order to facilitate access to sustainable funding, allows governments, elected authorities, and their technical teams to design, implement, and assess their own development projects, in accordance with the characteristics and the potential of their territory, and in consultation with other interested local parties..
The meeting brought together the members of FMDV, and served to present the organization’s activities discuss its strategy. The representatives of the METROPOLIS member cities forming part of the General Assembly were able to participate in this meeting (albeit without the right to vote).