Six municipalities in Armenia, Moldova and Ukraine have been selected for an EU-funded programme offering advice and grant support to help cities develop projects that can attract investment.
The scheme is part of the Mayors for Economic Growth (M4EG) initiative, funded by the European Union and implemented by the United Nations Development Programme (UNDP), the European External Action Service (EEAS) announced on Thursday.
The program will be delivered through a City Financial Advisory Programme, developed with Frankfurt School of Finance & Management and Climate Policy Initiative.
Under the programme, each selected municipality – or group of municipalities – will receive tailored advisory support to strengthen local capacity in investment planning and readiness to attract finance.
Support will also include help identifying partners and sourcing capital by connecting cities with investors and international financial institutions.
Each participating municipality will receive a grant of $60,000 to improve the financial readiness of one priority project.
Cities selected in Armenia, Moldova and Ukraine
The municipalities chosen are Tashir and Stepanavan in Armenia’s Lori Province; Ungheni in Moldova’s Centre Region and Edinet in its North Region; and Trostianets in Ukraine’s Sumy Oblast and Kryvyi Rih in Dnipropetrovsk Oblast, the statement said.
Two additional cities already taking part in UNDP’s City Experiment Fund Twin Transition cohort will also be supported under the advisory function, and will be identified in consultation with the City Experiment Fund team.
The European Union said the initiative would support Ukrainian municipalities in strengthening financial management and turning priority urban projects into investment-ready opportunities, according to comments from Stefan Schleuning, Head of Cooperation at the EU Delegation to Ukraine.
UNDP said the programme is intended to help Ukrainian cities bridge local plans and international investment, according to comments from Auke Lootsma, UNDP Resident Representative in Ukraine.
M4EG was launched by the EU in 2017 and has been continuously funded by the bloc, while UNDP has managed the initiative since 2021 in cooperation with the EU and local authorities.
