Unlocking the Potential of Cities: Financing Sustainable Urban Development
This position paper explores global trends and characteristics in urbanization, emphasizing the significance of investing in cities. It delves into challenges hindering sustainable urban development financing, including barriers in key areas like housing, infrastructure, water, and sanitation. The paper analyzes the impact of COVID-19 on city revenue and proposes strategies for diversifying funding sources and employing innovative instruments to bolster sustainable urban development.
Additionally, it outlines recommendations for overcoming barriers and enhancing the finance landscape for sustainable urban development, ultimately unlocking the potential of cities. It also provides transformative roadmaps and suggests policies to optimize urban development finance opportunities, encompassing strategies such as diversifying funding sources, expanding internal revenues, accessing external finance, fostering public-private partnerships, encouraging intergovernmental cooperation, and promoting collaborative resource-sharing among cities.