Cities Investment Facility Feasibility Fund

Cities currently host 4.2 billion people (55% of the world’s population) and materially impact their surrounding territories. By 2050, 68% of the global population will be urbanised as the global urban footprint nearly doubles.

By 2050, cities will see their populations swell by 2.5 billion people, almost entirely in developing and emerging economies – 90% of this growth will occur in developing countries.

Through interconnectivity with surrounding cities and human settlements the movement of goods, services and skills across a rural-urban continuum is enhanced, thereby encouraging greater national economic development.

Through international trade connections cities can specialise in certain productive sectors and generate economies of scale that both contribute to and benefit from the global economy.

Cities currently generate around 80% of the world’s economy and there are close links between levels of urbanisation and per capita GDP. Likewise, by bringing together diverse groups of people, ideas, cultures and backgrounds, cities have become hotbeds of innovation, and through networks of universities, companies, research centres, religious and cultural institutions, cities have been able to promote ideas and advance knowledge and technological development.

Rapid urbanisation is fuelling cities’ infrastructure needs. Yet a US$3.2 trillion annual global investment gap, to realize this infrastructure, currently exists.

Cities are a major force for positive transformation if well planned and supported through investment. As the world seeks to recover from the economic losses wrought by COVID-19, become resilient to pandemics and impacts of climate change, accelerate SDGs achievement and improve quality of life, an unprecedented level of investment in cities is required for infrastructure development.