UN Capital Development Fund 44d ago

What if cities across Africa could finance resilient infrastructure themselves? The city of Tanga, Tanzania just answered that question. Through its Urban Water Supply and Sanitation Authority, Tanga launched East Africa's first subnational green bond, raising over $20 million in local currency for climate-resilient water infrastructure. 65% of that came from domestic investors. And when the bond went to market, demand exceeded supply: it was 103% oversubscribed. Listed on both the Dar es Salaam Stock Exchange and the Luxembourg Green Exchange, the bond attracted investors from across Tanzania and internationally, proving that local governments in emerging markets can meet international investment standards. With support from the UN Capital Development Fund (UNCDF), Tanga structured a transaction that demonstrated something the development finance world has long needed to see: that subnational governments can access capital markets directly to finance the infrastructure their communities need. This is not just a Tanga story. It is a model — one that could unlock billions in climate resilience investment across Africa, channeling capital directly to cities and local governments where the need is greatest and the financing gap is widest. 🔗 Read our new Strategic Framework: https://www.uncdf.org/strategic-framework Get involved: 🔗 UNCDF: https://www.uncdf.org 🔗 Follow on LinkedIn: https://www.linkedin.com/company/uncdf 🔗 Follow on X: https://x.com/UNCDF 🔗 Follow on Instagram: https://www.instagram.com/uncdf 🔗 Follow on Facebook: https://www.facebook.com/UNCDF 🔗 Follow on Threads: https://www.threads.com/@uncdf 🔗 Follow on BlueSky: https://bsky.app/profile/uncdf.bsky.social #uncdf #unitednations © UN Capital Development Fund 2026. All rights reserved.