It is the objective of UNCDF to shortlist up to a maximum of only ten (10) Financial Intermediaries (FIs) within a period of 12 months. 

UNCDF’s review of applications shall be on a rolling basis. This means that, until December 20, 2025, UNCDF will be reviewing applications received every last working day of each calendar month, until such time that the target maximum of 10 FIs have been evaluated and confirmed by UNCDF to be eligible for the Guarantee Facility. When the target number of 10 FIs have been reached, the publication shall be closed. 

If you have an ongoing application in the platform, we encourage you to complete them as soon as possible, if you would like to among the 10 that will be selected. 

If you have questions regarding the monthly recurring deadline and review process, please email us at queries@uncdf.org. 

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This EOI aims to enable cities, townships and municipalities that are located in Africa (sub-Sahara region) and Asia (Asia Pacific region) obtain loans from financial institutions for their essential infrastructure projects that meet the UNCDF criteria, by providing guarantees to the financial institutions that will derisk the financing of infrastructure projects in those said locations.  

By deploying the said guarantees, cities and their partners partner companies will be able to:

• increase local government access to finance;
• secure loan approval from the FIs
• eliminate or reduce collateral requirements
• reduce the cost of loan
• increase the tenure of loan
• encourage first time borrowing
• build credit history
• provide technical assistance

The selected applicants would be invited to enter into a Non-Disclosure Agreement with UNCDF. The purpose of the NDA is to protect subsequent exchange of information between financial intermediaries and UNCDF. Based on the rights of each party under the NDA, UNCDF would jointly work to identify a potential pipeline of project loans and/or portfolio of loans for the subsequent joint deployment of the guarantee facility.

Subsequently, UNCDF and the financial intermediary may develop a proposed pipeline of projects and the terms and conditions of the guarantee scheme. For such purpose, UNCDF would invite the financial intermediaries to enter into a Memorandum of Understanding (MOU).

The guarantee is expected to be deployed within 5 months of signing the MOU. The MOU is expected to be signed 2 months from signing the NDA.

This EOI aims to shortlist seven (7) to ten (10) financial intermediaries with whom UNCDF would begin to explore partnership opportunities to jointly develop a pipeline of projects.

The purpose of the MOU is to further their collaboration in the financial structuring and other technical assistance works towards the deployment of the Guarantee Facility to de-risk related municipal infrastructure projects using single loan or portfolio guarantees. The MOU will clearly outline for UNCDF and the financial intermediaries what collaboration means i.e. initial screening, pre-assessment, due diligence, structuring of projects or portfolio of project loans and structuring terms of guarantees with UNCDF for each transaction.

At the final stage of the partnership, in the event that the works under the MOU are completed with final selection of target investments for deployment of guarantees, the selected transactions will undergo approval processes of investment committees (internal to that of the financial intermediary and UNCDF).

UNCDF and the financial intermediaries would reach legal and financial closure through negotiation and finalization of the terms and conditions of the guarantee and signing the guarantee agreement. Signing of the Guarantee Agreement would allow UNCDF to offer guarantee coverage to the financial intermediary.

Please note that mere submission to this call for Expression of Interest does not guarantee that UNCDF will provide any form of guarantee coverage or any financial agreement.

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Please submit your proposal through this e-investment platform. Incomplete submissions or submissions using other templates or sent by other electronic or non electronic means will not be eligible. 

For more information please download the following documents:

1. Call for Expression of Interest (EOI) document
2. Instructions to EOI Applicants
3. Main application guidance document
4. Standard NDA template
5. Standard Memorandum of Understanding (MOU) template
6. List of Eligible Countries
7. Self Certification template
8. Questions and Answers

For queries write to the following address: queries@uncdf.org with the following subject: 241203 - EOI - Call for Expression of Interest (EoI) for Financial Intermediaries to Partner with UNCDF in the Implementation of The Guarantee Facility for Sustainable Cities