AfDB publishes joint report on Livable cities with ADB, IDB, EBRD


Devdiscourse News Desk | Abidjan | Updated: 22-10-2019 18:25 IST | Created: 22-10-2019 18:25 IST
AfDB publishes joint report on Livable cities with ADB, IDB, EBRD
The report reveals that while the majority of leading economic hubs are still in advanced economies, the center of economic activity is moving toward the developing and emerging markets.
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Fast urbanization has always been a boon with plenty of opportunities to give more sustainable, vibrant, and prosperous centers for their citizens. However, a new report titled ‘Creating Livable Cities: Regional Perspectives’ by the African Development Bank focuses at urbanization trends across emerging and developing economies in Africa; Asia and the Pacific; Eastern Europe, Southern and Eastern Mediterranean; and Latin America and the Caribbean.

The African Development Bank jointly worked with the Asian Development Bank, Inter-American Development Bank and European Bank for Reconstruction and Development to publishing the report. “Cities offer access to key infrastructure, institutions, and services for a good quality of life. They can be centers of innovation for a more livable future for all. But realizing that potential requires forward thinking and flexible planning, adequate capacity at the municipal level, and good governance,” the President of Asian Development Bank, Takehiko Nakao said.

According to the report, the world’s urban population has increased from 750 million in 1950 (or 31 percent of the total population) to 4.2 billion in 2018 (55 percent of the total population)—a number that is estimated to reach 5.2 billion in 2030 (60 percent of the total population). The report further reveals that while the majority of leading economic hubs are still in advanced economies, the center of economic activity is moving toward the developing and emerging markets. Asia and Africa will account for 90 percent of urban population growth between 2018 and 2050, with more than a third of this growth to happen in just three countries—the People’s Republic of China (PRC), India, and Nigeria.

“We are helping to open up rural areas to development as a means of reversing migration trends. To do this, we are investing in skill upgrades, creating jobs, providing access to SME finance for young men and women. Ultimately, we need to create livable and workable cities for the younger generation,” the African Development Bank’s President, Akinwumi Adesina said.

He further summoned for increased regional development bank cooperation in information sharing, shared learning from existing diagnostic tools, and a joint action plan and collective effort to help create sustainable and livable cities.

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