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São Paulo

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.

Improving Slums: Stories from Sao Paulo

Written by Fernando Serpone Bueno and Veridiana Sedeh, São Paulo

SÃO PAULO – Seventh largest among the world's metropolises and the linchpin of Brazil's booming economy, São Paulo presents a globally relevant case study of stepped-up efforts — but continued deep challenges — if cities are to correct the deep poverty and environmental perils of massive slum settlements.

Favela in BrazilClose to a third of São Paulo's 11 million people — in a metropolitan region of almost 20 million — live in slum-like conditions. There are some 1,600 favelas (private or public lands that began as squatter settlements), 1,100 "irregular" land subdivisions (developed without legally recognized land titles), and 1,900 cortiços (tenement houses, usually overcrowded and in precarious state of repair).

A tale of three men and 40 cities

Dan Hoornweg's picture

WB and C40 Climate PartnershipDriving through Sao Paulo yesterday, I was struck by the power of cities. While cities are part of the climate change problem, they need to be part of the solution too. They are bigger and more energized than any individual or organization. Cities push and cajole; and cities act. Cities are where it all comes together. 

Even more so when former President Bill Clinton, World Bank President Robert Zoellick, and New York City Mayor Michael Bloomberg joined forces in Sao Paulo. The accomplished gentlemen born less than a dozen years and 1,500 miles apart spoke and fielded questions with a worldly and gracious informality. The pleasant exchanges sat in contrast to the underlying gravity of their mission. Together they have determined to access their considerable resources to tackle one of the biggest challenges they’ve ever faced: climate change.