WB: Urbanization should ensure sustainable economic growth

Urbanization must ensure sustainable economic growth in cities, Mark Roberts, World Bank Lead Urban Economist, said at an event at WUF13 in Baku, Report informs.

He noted that the developing world is rapidly urbanizing.

"For example, sub-Saharan Africa is the fastest-urbanizing region in the world. Its urban population is projected to increase by 742 million people over the next 25 years, reaching 1.7 billion. The key challenge is to ensure that this rapid growth translates into sustainable urban economic growth," the economist said.

Roberts also noted that chaotic, fragmented urbanization patterns undermine the potential benefits of urbanization for productivity and economic growth: "At the same time, various risks must be taken into account, including those associated with climate change, such as increased exposure to floods and heat waves."