FINANCE YOUR CITIES
INNOVATION AWARDS
First-ever worldwide edition
Urban Climate Finance
About
Finance Your Cities
Innovation Awards
Pioneered by FMDV – Global Fund for Cities Development, within its Finance Your Cities platform umbrella, the Finance Your Cities Innovation Awards identify, connect and promote financial innovations in favour of the sustainable, just and resilient transition and adaptation of cities and regions.
The Finalists are institutions and actors that have designed and implemented innovative financial mechanisms, whether they are the main financial partner or the host institution.
The whole set of applicants will be gathered in a compendium serving as a resource for further exploration, and identifying a Leaders League of Urban Finance Innovators.
what inspired us
A Leaders League of Urban Finance Innovators
The Jury assessed how innovations had context-specific transformative impacts, a sustainable and resilient financial model, and the proper framing to be potentially replicated and scaled up.
STAY AHEAD: Adapt to the Fast-Changing Urban Landscape
Urban challenges are not waiting, and neither are the Leaders of Urban Finance Innovators. They are agile, always ready to pivot, bringing innovative solutions to an evolving world.
MAKE WAVES: Drive Meaningful, Lasting Change
Leaders are here to create impact that matters. From resilient infrastructure to community-led development, they are dedicated to transformative projects that make a difference today —and set cities and regions up for success tomorrow.
BREAK BARRIERS: Unlock the Power of Sustainable Finance
Financing should not be a roadblock, but be a launchpad. Leaders dismantle the barriers holding cities and regions back, delivering innovative financial pathways to empower them.
DARE TO BE DIFFERENT: Forge New Paths Beyond the Status Quo
Leaders are boldly rethinking urban finance, designing fresh, forward-thinking solutions that put people and the planet first. This is urban finance for a new era —innovative, inclusive, and unapologetically ambitious.
DISCOVER THE 4 LAUREATES
AMONG 28 COMPLETE APPLICATIONS FROM 18 COUNTRIES & 4 CONTINENTS
PREPARE YOURSELF FOR THE 2ND EDITION!
Jury Panel
The FYC Innovation Awards for Urban Climate Finance represent a key initiative to highlight the specific role of subnational development banks and their financial engineering capacities.
The FYC Innovation Awards reflect the multiplication of financial solutions and is a vector to connect the actors involved.
The FYC Innovation Awards show the way to better living conditions and inclusion. Financing the climate transition is a complex issue; starting the process with demonstrators is the way forward.
The laureates exemplify how targeted, channelled finance can drive real impact. By creating models that can be scaled globally, they show how local solutions can power broader resilience efforts.
Key criteria for the evaluation process undertaken by the Jury of the FYC Innovation Awards was replicability.
The FYC Innovation Awards identify ways to work together between local and national governments and partners for transformative impact. Now we have an opportunity: replicate across countries and regions for massive impact with targeted replication programs! Let’s define next steps!
Secretariat
FMDV’s Headquarters
Tour Maine Montparnasse
33 Avenue du Maine, BP316
75755 Paris Cedex 15
FRANCE
Q&A
ALL YOU NEED TO KNOW
WHAT IS A FINANCIAL INNOVATION?
- Climate Taxation for Subnational Action, Fiscal Decentralization, Financial Incentive mechanism,
- Dedicated Market-Rate or Concessional Loans (Provision or Mobilization),
- Toolkit or approach to Risk Assessment,
- Specific Guarantees, Credit Enhancement and Risk Mitigation Processes,
- Subnational/Local Project Green Bond,
- Subnational Project Preparation Facility,
- Vehicle mobilizing Impact Investors,
- Revolving Fund,
- Refinancing or Repayment Scheme,
- Subnational Carbon Finance, and channels to Carbon Finance,
- Pooling (or Aggregation/Bundling) mechanism for Small Projects,
- As well as many other solutions we have not heard of yet!
Where and when will thE CEREMONY OF THE 1st Edition of the FYC Innovation Awards tOOK place?
The Ceremony of the 1st Edition of the Finance Your Cities Innovation Awards took place in November during an international high-level event at the World Urban Forum 12 in Cairo, Egypt.
ARE APPLICATIONS OPEN TO ALL SECTORS? WHAT ARE THE ELIGIBILITY CRITERIA?
All sectors are encouraged to apply, but applicant organizations must answer the eligibility criteria.
Applicant organizations must belong to one of the 3 categories, and all submissions must be either at the final stage of implementation or implemented in the last three years with evidence-based reporting material.
WHAT DO THE CATEGORY NAMES REFER TO ?
The category “Local and Regional Governments” refers to the governing bodies at the local and regional levels, such as city councils, mayors, and regional administrations. They are responsible for making decisions and implementing policies that directly impact urban development within their jurisdictions. They play a crucial role in managing infrastructure, land use, zoning regulations, and public services to shape the growth and well-being of cities and regions.
“Ministries and National Agencies” are government bodies at the national level that are responsible for overseeing and coordinating various sectors of urban development. They formulate policies, develop strategic plans, and provide regulatory frameworks related to areas like housing, transportation, environment, urban planning, and economic development. These entities work closely with local governments and other stakeholders to ensure effective governance and implementation of urban development initiatives.
“Public Development Banks” are financial institutions, often owned or controlled by the government, that provide long-term financing and investment for development projects. They focus on funding initiatives that promote economic growth, infrastructure development, and social welfare. In the context of urban development, public development banks play a vital role in providing loans, grants, and technical assistance to support urban infrastructure projects, affordable housing programs, and sustainable urbanization efforts.
Is it possible to submit applications in several categories?
Submissions are exclusively applied to one category.
HOW WERE THE SUBMISSIONS ASSESSED?
Firstly, the entries were reviewed by the Technical Committee, including a round of feedback with the focal points of the submitted projects when necessary. Following this shortlisting, the deliberation was made by the Jury.
The final nominees have been called back following the announcement so as to prepare an online pitching session with the jury panel members that occured one month prior to the Ceremony, 2024.
How IS awarded with the Grand Prix?
All submissions dedicated to the specific issue of adaptation have been considered for the Grand Prix. The recipient of the Grand Prix did not receive an award for the category it had originally entered. It is not possible to apply specifically for the Grand Prix.
TERMS & CONDITIONS
- Applications are open to all regions.
- Applications must refer to solutions that have been recently implemented in your context, have never been awarded an innovation prize and are no older than 5 years
- Applications must be submitted by one entity, with sponsor letter from partners in the case of a partnership
- Applicants must be one of the 5 categories
- By submitting the nomination form, the applicant is confirming that the details given in support of a nomination for an award are accurate to the best of their knowledge.
- Finance Your Cities Innovation Awards accepts no liability for any inaccurate information contained within the submitted entry as it is the responsibility of the applicant to provide accurate information.
- Entrants giving false or misleading information will be excluded from the awards competition.
- You (or the licensors) continue to own the copyright in all works forming part of your entry however by submitting an entry you consent to our use of submitted photographic works in any publication, related to the award or not.