Networking Session at the 6th UCLG-ASPAC Congress Suggests Ways of Boosting Local Infrastructure Investments
September 16, 2016
Local and regional governments play a crucial role in driving sustainable urban development. To do so, they need to have the capacity to prepare feasible infrastructure investment projects, and mobilize resources for their implementation.
With this in mind, CDIA conducted a local finance networking session on 6 September 2016 as part of the 6th UCLG-ASPAC Congress in Jeollabuk-do, South Korea. With the theme, “Region, Life and Culture in the New Urban Agenda,” the conference served as a platform for communication and cooperation among various local governments and experts to come up with sustainable development methods that will ensure better quality of life for all in the Asia-Pacific Region.
The session on “Localizing the Addis Ababa Action Agenda (AAAA) – Way Forward for Sustainable Development Finance” discussed good practices and lessons learned in financing infrastructure projects in India, Indonesia, Nepal, and Bangladesh at both local and regional levels. It also outlined cooperation possibilities and innovative financing options to facilitate better understanding of how local governments can boost infrastructure investments toward sustainable urban development. Fifteen local government officials and urban stakeholders from various countries in Asia and the Pacific participated in the session.
CDIA, through its urban development specialist, Ms. Eva Ringhof chaired the session and provided additional insights on how CDIA can assist cities to identify and develop their urban investment projects, and eventually link them to investors.
Complementing SDG 11 and the New Urban Agenda, the AAAA provides a framework for addressing the infrastructure financing gap at the local level. Since the agenda will be implemented largely at the local and regional levels, it is important for local governments to find out how they can be financed, and what are the available financing mechanisms. These are some of the key questions answered in the networking session.