Two more cities will soon issue EIBs for infrastructure projects (not just stormwater management) — and the investors could be you or me.
Which two cities exactly will be determined in a competition announced by Neighborly, a company with a platform that makes it easy for the public to invest directly in municipal bonds via the internet, and the Rockefeller Foundation’s 100 Resilient Cities initiative.
“We need new models and financing mechanisms to produce more jobs, create new opportunities and build more resilient cities,” said Neighborly CEO Jase Wilson, in a statement calling for cities to apply.
Eligible EIB proposals must geographically include one of the cities that are part of the 100 Resilient Cities network (regional authorities that include a city in the network may submit a proposal). Among other factors, proposals will be judged on impact, including environmental impact as well as benefits to poor and vulnerable communities; the financial strength of the issuing agency or government; the size of the proposed transaction ($5 million or greater is suggested); and the scalability of the proposed project and finance approach within the city or to other cities.
Proposals may also incorporate multiple projects and aspects of environmental impact, such as stormwater reduction, clean energy infrastructure, water conservation, or recycling and waste reduction.Read More