Yerevan, 22 December 2025 – The EU-funded Mayors for Economic Growth (M4EG), implemented by the United Nations Development Programme (UNDP), is launching a new Call for Interest for the City Financial Advisory Programme. The initiative will support cities with EU financing to further develop investment-ready projects and projects pipeline aligned with their mission-driven urban strategy and urban programme goals.

The programme’s objective is to establish a City Finance Advisory Function (CFA Function) – a regional advisory and development mechanism designed to bridge the financing gap between cities and investors. It will enhance local financial capabilities and help aggregate urban development projects into bankable investment pipelines.

The Call is open to municipalities in Armenia, Moldova, and Ukraine that have already participated in M4EG’s mission-oriented economic planning or portfolio design programmes, as well as other advanced municipalities that have local development pipelines in place.

Through this Call, five cities will be selected to participate in the programme’s first year. Each city will receive technical assistance from the CFA Function and a EU-funded US$60,000 grant to help build and advance their investment pipeline. The programme is expected to expand to additional cities in 2026, following a pilot phase with the first cohort.

In addition to the five selected cities, the CFA Function will also support two cities currently participating in the City Experiment Fund (CEF) Twin Transition cohort. These cities, which are undergoing portfolio design processes, will be identified in consultation with the CEF team.

The English version of the Guidance Note for the Call for Interest: City Financial Advisory Function is available via the link. For localized versions in Armenia, Moldova, and Ukraine, please follow the respective links.

For media inquiries:

Mr. Anton Sydorenko, M4EG Facility Communications Lead, anton.sydorenko@undp.org