Srinivas Sampath: ADB develops measures to prepare cities for private investment

The Asian Development Bank (ADB) is working to improve the creditworthiness of cities to attract private capital.

Report informs that Srinivas Sampath, Director of the Urban Development Division at ADB, said this during the panel discussion "Financeable Municipalities, Liveable Cities: How can cities attract long-term financing at the required scale?" held as part of the 13th session of the World Urban Forum (WUF13) in Baku.

"The Asian Development Bank is preparing to implement a set of measures aimed at preparing municipalities to engage with private capital. At present, the vast majority of cities do not have the necessary creditworthiness. The bank is assisting municipalities in organizing accounting, removing regulatory barriers and forming a portfolio of investment-attractive projects.

Priority attention is being given to India, where ADB intends to use the Urban Development Fund mechanism to support bond issuance and the structuring of public-private partnership deals," Sampath said.