New York, September 16, 2021 – Meridiam, in partnership with The Rockefeller Foundation and the Private Infrastructure Development Group (PIDG), has successfully closed the Catalytic Capital Fund (CCF) a key innovative pillar of The Urban Resilience Fund (TURF) initiative. CCF is designed to support cities through capacity-building and the mobilization of up to €10 billion in private investment into resilience infrastructure through the preparation of commercially viable infrastructure projects. The Catalytic Capital Fund will provide cities in Europe and Africa the necessary financial and technical resources for project development, ensuring that projects are designed and delivered in line with Paris Agreement objectives and UN Sustainable Development Goals and meet the highest ESG and resilience standards. The projects will be developed in the clean mobility, energy transition and environment, and social infrastructure sectors.
TURF is a global blended finance impact fund launched by Meridiam in partnership with The Rockefeller Foundation and the United Nations Capital Development Fund (UNCDF) to support cities in delivering critical resilience infrastructure projects in Europe and Africa.
With more than 70% of the world’s population expected to live in an urban environment by 2050, the investment need for resilient and sustainable public services is estimated around 5 trillion USD per year globally. The delivery of resilience infrastructure will be especially critical to adapt to and mitigate the consequences of climate change to which urban communities are particularly exposed.
The Catalytic Capital Fund brings together Meridiam, the Fund’s manager and a global leader in sustainable infrastructure investment, The Rockefeller Foundation, the sponsor of the Resilient Cities Network and a leader in climate, resilience, and equitable energy transitions, and the Private Infrastructure Development Group, an infrastructure project developer and investor mobilizing private investment in emerging markets, in an innovative partnership that will support TURF’s mission to deliver resilience urban infrastructure.
Meridiam was founded in 2005 by Thierry Déau, with the belief that the alignment of interests between the public and private sector can provide critical solutions to the collective needs of communities. Meridiam is an independent investment Benefit Corporation under French law and an asset manager. The firm specializes in the development, financing, and long-term management of sustainable public infrastructure in three core sectors: mobility, energy transition and environment, and social infrastructure. With offices in, Addis Ababa, Amman, Dakar, Istanbul, New York, Luxembourg, Paris, Toronto and Vienna, Meridiam currently manages US$10 billion and more than 90 projects and assets to date. Meridiam is certified ISO 9001: 2015, Advanced Sustainability Rating by VigeoEiris and applies a proprietary methodology in relation to ESG and impact based on United Nations’ Sustainable Development Goals (SDGs). www.meridiam.com. Twitter: Meridiam. LinkedIn: Meridiam. Youtube: Meridiam
About The Rockefeller Foundation
The Rockefeller Foundation is a pioneering philanthropy built on collaborative partnerships at the frontiers of science, technology, and innovation to enable individuals, families, and communities to flourish. We work to promote the well-being of humanity and make opportunity universal. Our focus is on scaling renewable energy for all, stimulating economic mobility, and ensuring equitable access to healthy and nutritious food. For more information, sign up for our newsletter at rockefellerfoundation.org and follow us on Twitter @RockefellerFdn.
The Private Infrastructure Development Group (PIDG) is an innovative infrastructure project developer and investor which mobilises private investment in sustainable and inclusive infrastructure in sub-Saharan Africa and south and south-east Asia. PIDG investments promote socio-economic development within a just transition to net zero emissions, combat poverty and contribute to the Sustainable Development Goals (SDGs). PIDG delivers its ambition in line with its values of opportunity, accountability, safety, integrity and impact. Since 2002, PIDG has supported 171 infrastructure projects to financial close which provided an estimated 217 million people with access to new or improved infrastructure. PIDG is funded by the governments of the United Kingdom, the Netherlands, Switzerland, Australia, Sweden, Germany and the IFC. PIDG TA can provide technical assistance and capital grants to the PIDG companies to meet a range of needs associated with an infrastructure project’s life-cycle. PIDG TA can also provide up-front viability gap funding grants to support PIDG projects that require concessional funding to make a project with strong development impact financeable. www.pidg.org
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