Cities are the engine of the global economy, accounting for approximately 80% of global GDP1 . The current urban population of around 3.9 billion is expected to grow to around 6.34 billion by 2050 - 70% of the total global population. This growth is rising fastest in a handful of emerging markets and developing economies, namely India, China and Nigeria, who will contribute between them more than 35% of overall growth in urban populations between 2018 and 20502 .
1 - The New Climate Economy, Seizing the Global Opportunity, 2015
2 - UN Department of Economic and Social Affairs - 2018 Revision of World Urbanization Prospect
There are no easy answers when examining the ways of boosting private finance in cities in developing countries, but it is clear it has a valuable role to play in meeting global low-carbon, climate-resilient infrastructure ambitions. Banks and institutional investors can provide the upfront capital investment to finance the infrastructure, but cities and governments need to provide the predictable revenue streams in order to support this financing.
Director, Global Capital Projects & Infrastructure, PwC United Kingdom
Capital Projects & Infrastructure, Senior Manager, PwC United Kingdom