Bridging the Financing Gap
By 2050, 70% of the world’s population will be living in cities. In Africa, twothirds of the projected total population of 2.5 billion will require urban services by 2063. Key development challenges that cities face include affordable housing, attractive real estate for new investors at competitive rates, jobs, transport within and between cities, health services, reliable supply of clean water and electricity, sanitation, reduction of noise and pollution, quality and affordable education, adequate recreation facilities, food security, telecommunications, and climate change mitigation and adaptation.
According to the United Nations Conference on Trade and Development (UNCTAD), the current annual investment gap in meeting investment needs in key SDG sectors by 2030 in developing countries alone is USD2.5 trillion.
This gap needs to be filled through a combination of local and international public and private investment, including official development assistance (ODA) and FDI.