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Budget-strapped cities are creating financing—out of thin air

Luis Triveno's picture

Photo: Jonathan O'Reilly / Shutterstock

The world is urbanizing fast200,000 people are moving to cities every day in search of homes, jobs, as well as education and healthcare services for their families. Supporting this influx with proper infrastructure and services for water, sanitation, transport, and green spaces will require an estimated $1 trillion each year.
 
Given the difficulties of further increasing the tax burden or the level of public debt, it’s time for cities to think more creatively about alternative sources of funding.

Not willing to wait for their national governments to bless them with scarce infrastructure funds, innovative mayors have figured out how to squeeze a new source of urgently needed capital out of thin air, literally.

In Search of India’s Smart Cities

Jon Kher Kaw's picture


“Smart city” has become a buzzword in India ever since Prime Minister Narendra Modi outlined his vision for creating a series (a hundred, to be exact) of them. Since then, there have been many debates to unpack, understand and define the smart city. “Smart cities” joins the long list of many other often overused city descriptors such as “creative cities”, “sustainable cities”, “eco-cities”, “resilient cities” and “livable cities”.