Wednesday, May 22, 2024

Focus on making cities centres of economic growth

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The G20 Infrastructure Working Group (IWG) meeting under the G-20 India Presidency began on a grand note in the port city of Visakhapatnam on Tuesday.

On Day 1 of the IWG meeting, discussions focused on the flagship priority, “Financing Cities of Tomorrow: Inclusive, Resilient and Sustainable”, along with other priorities outlined in the 2023 Infrastructure Agenda.

The flagship theme of “Financing Cities of Tomorrow- Inclusive, Resilient and Sustainable” discussed various facets of making cities economic centres of growth, financing urban infrastructure, building future-ready urban infrastructure etc. The meeting also discussed other important themes, such as innovative financing models to scale up private sector investment to address the infrastructure financing gap for creating future cities and discussing the potential application of the Quality Infrastructure Investment (QII) indicators across the infrastructure projects.

On the sidelines, the meeting was also complemented by a round table of international organizations to discuss infrastructure taxonomies. Over 13 international experts discussed the role of infrastructure definitions and taxonomies in making better data-driven decisions. The side event witnessed the participation of experts from key International Organizations such as UNDP, OECD, IMF, ADB, and EBRD. Representatives from the National Institute of Statistics and Geography (INEGI), Mexico, and the Office for National Statistics, United Kingdom, presented case studies on improving national infrastructure spending.

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