World Cities Renovation Estimated at USD 4.5 trillion/year‎

Google+ Pinterest LinkedIn Tumblr +

The renovation and creation of new infrastructures for the sustainability of the cities in the world is estimated to cost Usd 4.5 trillion a year.

The information was released Thursday in Luanda by the mayor of Cascais (Portugal) city council, Carlos Carreiras, during his presentation on “Financing of autarchies”.

Addressing the Sustainable Cities Economic Forum taking place in the Angolan capital, Carlos Carreiras said the USD 4.5 trillion/year forces public and private managers to find other forms of financing to develop the cities.

Mentioning World Bank data, the official stated that until 2030 the cities will lose Usd 330 billion a year as a result of environmental disasters which, according to him, forces the governments to invest in reducing urban areas risks.

To him, the above costs are too high to any government, which requires more investment and a closer cooperation among public and private operators.

He mentioned the opening of new economic chains that generate values and prosperity, public financing, private investment and creation of debt as the main factors ensuring the funding and revenues for the cities.

Carlos Carreiras said that the demographic trends, particularly in Portugal, show that more people will live in urban areas than in rural areas, putting an enormous pressure on the development of the cities.

The expansion of the cities to keep pace with the demographic growth will demand huge investments in infrastructure, he stated.

The specialist considered that the terms of financing of autarchies might aggravate due to the cities structural development trends.

For the head of a city council with 208,000 inhabitants in Portugal, increasing city resilience, reducing risks for citizens and coastal cities in the Lusophone community are suffering greatly from climate change, a factor that will require a greater effort to mitigate the community with more than 6,000 cities in the Lusophone space.

The event going with the motto “Thinking Globally, Acting Locally” sponsored by the Luanda Business Association and the Portuguese Speaking Entrepreneurs Forum (FELP) in partnership with the Luanda Administrative Commission, and the Union of Portuguese Speaking Capital Cities (UCCLA), aimed at an exchange of experiences and creation of business opportunities among the presidents of the city councils and entrepreneurs of Portuguese-speaking countries.

The meeting, which was attended by the Luanda provincial governor, Higino Carneiro, municipal administrators, members of the diplomatic corps accredited to Angola and other officials, tackled such themes as the impact of foreign direct investment in the regional economy and financing of municipalities.

Other topics includes public autarchy procurement-cases of success, cases of success of environmental technologies and others.

UCCLA is an inter-municipal association of international nature, created on 28 June 1985. The signing ceremony took place in Bissau, Lisbon, Luanda, Macau, Maputo, Praia, Rio de January and São Tomé/Água Grande.

Share.

About Author

Leave A Reply