The Inter-American Development Bank (IDB) has collaborated with the African Development Bank (AFDB), the Asian Development Bank (ADB) and the European Bank for Reconstruction and Development (EBRD) in launching a joint report on liveable cities in Latin America and the Caribbean.
The IDB said the report, “Creating Livable Cities: Regional Perspectives,” looks at urbanisation trends across emerging and developing economies across the world.
IDB President Luis Alberto Moreno on Friday took part in the launch of the publication at IDB headquarters here with the presidents of the other three development banks: Akinwumi Adesina of AFDB, Suma Chakrabarti of EBRD and Takehiko Nakao of ADB.
The IDB said the world’s urban population has grown from just 750 million in 1950 (or 31 per cent of the total population) to 4.2 billion in 2018 (55 per cent of the total population) – a number that is estimated to reach 5.2 billion in 2030 (60 per cent of the total population).
“While the majority of leading economic hubs are still in advanced economies, the centre of economic activity is moving toward the developing and emerging markets,” the report says.
It also points out that cities need large scale investments to develop and maintain infrastructure and services, such as urban transport, water supply, sanitation and solid waste management.
In the face of rapid growth, the report says overstretched services, skills shortages and increased vulnerabilities to disasters are adding to cities’ environmental stress.