DBSA, UCLG Africa establish African cities special purpose financing vehicle

Development finance institution the Development Bank of Southern Africa (DBSA) and African local government organisation the United Cities and Local Governments (UCLG) of Africa have committed to establish the African Territorial Trade and Investment Agency (ATIA), which is a special purpose vehicle dedicated to financing projects that will enhance the resilience, infrastructure and overall well-being of African cities. ATIA will serve as a dedicated financial entity designed to mobilise resources for critical projects, leveraging the combined expertise and networks of DBSA and UCLG Africa. ATIA is poised to play a pivotal role in unlocking opportunities and overcoming barriers to sustainable urban development by pooling financial resources and fostering collaboration, the organisations said.