National Institute of Urban Affairs (NIUA) and WRI India sign MoU to establish a Project Preparation Facility for Accelerating Financing for Climate Adaptation and Resilience in Indian Cities
New Delhi, 27 Sept, 2024: Committed towards enhancing urban climate resilience and sustainable development in India, National Institute of Urban Affairs (NIUA) and WRI India have signed a Memorandum of Understanding (MoU) aimed at accelerating financing for climate adaptation and resilience (A&R) projects in Indian cities. The MoU will facilitate establishment of a Project Preparation Facility (PPF) to support activities which will provide technical assistance to cities for the identification, development, and implementation of A&R projects.
The collaboration will focus on conducting needs assessments and vulnerability analyses to identify priority climate risks, performing feasibility studies to assess the technical, financial, environmental, and social viability of proposed projects, and developing bankable project concepts and proposals aligned with national and international climate adaptation strategies.
Focusing on capacity building, NIUA and WRI India will support the development and sharing of knowledge products, toolkits, and modules for the capacity building of urban local bodies (ULBs), Additionally, the MoU outlines efforts to engage with various funding sources, including bilateral/multilateral agencies, private investors, and philanthropic foundations, to secure investments for A&R projects in pilot cities.
Debolina Kundu, Director, National Institute of Urban Affairs said, “This collaboration with WRI India is a crucial step towards building climate-resilient cities in India. The initiative will not only help cities prepare for climate impacts but also promote innovative solutions for urban resilience. By leveraging our combined expertise, we aim to support cities in developing robust climate adaptation and resilience projects that can drive sustainable urban development.”
Madhav Pai, CEO, WRI India commented, “Indian cities are actively focused on addressing climate risks. Many urban governments across the nation are involved in different forms of climate action, including the creation and implementation of adaptation, resilience, and disaster risk reduction plans. Effective, equitable, and just solutions require understanding climate challenges, needs-assessment, capacity building, vulnerability analyses, and investments. We thank NIUA and welcome this opportunity to collaborate on all these aspects to make our cities climate resilient.”
About WRI India
WRI India, an independent charity legally registered as the India Resources Trust, provides objective information and practical proposals to foster environmentally sound and socially equitable development. Through research, analysis, and recommendations, WRI India puts ideas into action to build transformative solutions to protect the earth, promote livelihoods, and enhance human well-being.
Know more: https://wri-india.org/
For more information contact:
Satbhan Singh | satbhan.singh@wri.org
