Rapid urbanization has put significant pressure on the infrastructure and resources of many cities in Africa and the Middle East, limiting access to clean water, transportation, healthcare, and education, and leaving large populations vulnerable to the climate crisis. At least half of the requirements needed to meet the challenges of rapid urbanization in Africa remain unfunded, creating a dramatic infrastructure development gap.
Solution and Impact
A DFC loan is helping The Urban Resilience Fund (TURF), a blended finance investment fund managed by Meridiam Group, invest in infrastructure projects that address the critical needs of urban population growth in Africa and Jordan.
DFC financing will catalyze private capital to bring resilient solutions to cities in Africa and Jordan impacted by the infrastructure gap. TURF investments target projects in core sectors that expand access to clean water, clean energy, and public transportation.
Projects in the TURF portfolio will provide underserved communities in Côte d’Ivoire, Senegal, Morocco, and Jordan with access to energy-efficient schools and healthcare facilities and improve municipal solid waste management, reducing water-borne diseases. Investments in urban mobility projects include a fleet of electric buses in Dakar. The fund will also invest in energy transition and waste-to-energy projects that will help meet growing climate challenges.