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LoCaL pilots Results Based Finance in Cali, Colombia
18 April 2016LoCaL aims to unlock climate finance for cities and improve Results Based Finance-schemes.
Here this is piloted by supporting the Colombian city of Cali by implementing a green corridor: an urban renewal project that involves the reconstruction of a 22 km long strip along the old Pacific rail line right through the city.
It will include a network of electric light rail, high-quality public spaces and cycle paths. The project aims to improve access to economic opportunities for the population (especially low income groups) and reduce emissions from transportation. Project implementation will start in year 2016 and will be completed in three phases by the end of year 2022.
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