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    • News

    IDB to expand sustainable cities' initiative

    By Jenny Lei Ravelo // 21 March 2012

    Austria has provided €1 million ($1.2 million) to a multidonor fund administered by the Inter-American Development Bank.

    The contribution was made at the annual IDB board of governors’ meeting, which took place in Montevideo in Uruguay. The fund is part of IDB’s sustainable emerging cities initiative, which was launched last year.

    The fund will be of help to cities wishing to use the bank’s diagnostic and planning methodology to develop long-term strategies for environmental, urban, governance and fiscal sustainability. It is part of the bank’s plan to expand the initiative to include more cities from its 26 borrowing member countries in the next five years.

    IDB President Luis Alberto Moreno said the initiative will identify cities in Bolivia, Argentina, Colombia, Nicaragua and Jamaica this year. But he said donor governments, firms and foundations are welcome to sponsor the participation of other cities. FEMSA Foundation and the International Community Foundation recently agreed to sponsor the city of La Paz in Baja California, Mexico.

    Apart from Austria, the Nordic Development Fund has announced it will contribute €2.1 million to the fund.

    Read more:

    • IDB development research grants up for grabs

    • MapAmericas: A one-stop shop for IDB-financed development projects

    • New IDB funds for security, economic development await Latin America, Caribbean

    • Cultural, sports event kicks off IDB’s annual governors’ meeting

    • IDB eyes boosting support for Latin America, Caribbean private sector

    • IDB grants and loans: What you need to know

    • Find IDB projects & tenders

    Read more development aid news online, and subscribe to The Development Newswire to receive top international development headlines from the world’s leading donors, news sources and opinion leaders — emailed to you FREE every business day.

    • Funding
    Printing articles to share with others is a breach of our terms and conditions and copyright policy. Please use the sharing options on the left side of the article. Devex Pro members may share up to 10 articles per month using the Pro share tool ( ).

    About the author

    • Jenny Lei Ravelo

      Jenny Lei Ravelo@JennyLeiRavelo

      Jenny Lei Ravelo is a Devex Senior Reporter based in Manila. She covers global health, with a particular focus on the World Health Organization, and other development and humanitarian aid trends in Asia Pacific. Prior to Devex, she wrote for ABS-CBN, one of the largest broadcasting networks in the Philippines, and was a copy editor for various international scientific journals. She received her journalism degree from the University of Santo Tomas.

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