Islamic Capitals and Cities Cooperation Fund
It is a cooperative fund, which was set to contribute to financing of services projects, urban heritage conservation and protection projects and conduction of researches and training in the interest of the Organization's members.
The Fund offers a financial mechanism for the Organization that contributes to the fulfillment of its goals through the extension of grants and interest-free loans to the municipalities of member capitals and cities. The Fund’s Key Objectives focused on Supporting:
Sustainable development projects of the members’ municipalities that aim at promoting the public services and municipal facilities, and preserving the environment.
Action for the maintenance and preservation of Islamic heritage landmarks.
Scientific and technical research in all spheres related to municipalities and consolidation of its application tools.
Programs and projects for the establishment and development of capacity-building centers concerned with the development of the skills and aptitudes necessary for the members’ activities such as local governance, data management systems, environmental preservation, urban transport and service maintenance.
The Fund’s Financial Revenues proceed from:
Annual subscription fees of the Organization's member equivalent to half of its membership fees in the Organization.
Direct contributions from governments, institutions and individuals.
Contributions or in-kind donations that are endowed for the Fund’s objectives and invested in appropriate fields compatible with these objectives.
Contributions specifically allocated by those making them for a particular project, and its implementation shall be approved by the Administrative Council of the Fund.