The Multilateral Cooperation Center for Development Finance’s (MCDF’s) Governing Committee noted good progress made by MCDF during 2022 in promoting sustainable high-quality connectivity infrastructure investment despite COVID-19 challenges and endorsed its path ahead during the oversight body’s last meeting of the year on 13 December, 2022.

The Governing Committee, which is MCDF’s main decision-making body comprising contributors to MCDF’s Finance Facility, endorsed MCDF’s 2023 targets to support sustainable connectivity infrastructure in developing countries through the provision of grants and knowledge sharing.

The committee endorsed MCDF to progress its future development based on its many successful pilot initiatives and activities in 2022. This included the approval of grant resources for four project preparation and two capacity building funding proposals and numerous knowledge sharing activities, including two workshop series on sustainable financing and climate-smart connectivity infrastructure.

The Governing Committee also approved the procedure for MCDF to “accredit” International Financial Institutions (IFIs) as its implementing partners, and accredited the Development Bank of Latin America And The Caribbean (CAF) in a separate decision. It also approved the first African project to be supported by MCDF’s Finance Facility.