Al Twenty announces the establishment of the International Fund for Urban Resilience

The U20 Urban Community Communication Group, at the G20, said it is working to establish an international fund that aims to contribute to helping cities and urban communities deal with the consequences of the Covid-19 pandemic and other future challenges and emergencies. “We now have the opportunity to benefit from the lessons and experiences associated with the COVID-19 pandemic to make cities and urban communities more resilient and able to face similar challenges,” said Fahd bin Abdul Mohsen Al-Rasheed, head of the Urban Community Communication Group and CEO of the Royal Commission for Riyadh. In this context, Cities of the Urban Community Communications Group has taken upon itself the responsibility of establishing an international fund to help confront the pandemic and deal with other urban challenges to achieve a better and safer future for cities. According to an official press release, the establishment of this fund comes in response to the results of the work of the working group on Covid-19, which is the specialized group established by Riyadh in cooperation with the cities of Rome and Buenos Aires. The fund achieves its objectives by providing the necessary financing for cities to quickly respond in emergency and disaster situations in an effective and transparent manner, and to contribute to the cities obtaining the necessary investments in the necessary infrastructure to enhance their durability, and by providing financial solutions and various investment opportunities. The fund works to allow the development of financial and financing tools that are not currently available to cities by providing grants intended to provide technical assistance and low-interest loans.

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