This report sets the stage to explore the mandate and capacities of National Development Banks in accelerating financing for local governments’ climate-smart urban infrastructure. Infrastructure financing needs have been estimated at USD 4.1-4.3 trillion per year from 2015 to 2030.

In order to alleviate the economic and social consequences of COVID-19, several public and private entities have announced economic stimulus packages: national governments have proposed fiscal and monetary stimulus; multilateral development banks (MDBs) and climate funds have announced recovery funds to assist developing countries and emerging e