Much of this has to do with the lack of adequate infrastructure that can defend against the impacts of floods, sea level rise, landslides or earthquakes. . But even when cities know what it takes to become more resilient, most often they do not have access to the necessary funding to realize this vision.
It is estimated that worldwide, investments of more than $4 trillion per year in urban infrastructure will be needed merely to keep pace with expected economic growth, and an additional $1 trillion will be needed to make this urban infrastructure climate resilient. It is clear that the public sector alone, including development finance institutions like the World Bank, will not be able to generate these amounts—not by a long stretch.