The United Nations Capital Development Fund (UNCDF) and Meridiam have signed an agreement to collaborate on the International Municipal Investment Fund (IMIF). The fund has a particular focus on developing countries and is the non-OECD sleeve of The Urban Resilience Fund launched by Meridiam together with The Rockefeller Foundation.

The fund will help to develop, finance, build and operate sustainable and economically sound urban infrastructure projects intending to play a critical role adapting and mitigating climate change in cities. IMIF is a blended finance fund, leveraging concessional and commercial capital to increase the financing capacity available for new urban infrastructure projects. 

Meridiam will establish, fundraise for and act as the investment manager for the IMIF with an objective to identify, develop and invest in resilient and sustainable infrastructure projects in urban and municipal environments. The fund will finance selected projects by investing in equity and quasi-equity securities. The fund will be used as an instrument of the Malaga Coalition established in 2019 by UNCDF, UCLG and the Global Fund for Cities Development (FMDV).