Promoting sustainable and equitable urban development.
In February 2007 in Manila, Philippines, the international conference “Investing in Asia’s Urban Future” paved the way for the creation of the Cities Development Initiative for Asia.
Recognizing the urban challenges confronting Asian cities, the participants committed themselves to the development of strategies and approaches to enhance sustainable development and reduction of poverty in cities within the Asia-Pacific region. They formally endorsed the establishment of the CDIA, which was co-founded initially as a partnership between the Asian Development Bank (ADB) and the German Federal Ministry for Economic Cooperation and Development (BMZ) in October 2007. Since then, the Initiative has welcomed the participation of others as funding members. External support agencies, national and city governments, and private financing sources also considered joining the CDIA in supporting the common task of Investing in Asia’s Urban Future.