The City Resilience Program (CRP) helps cities build resilience through designing the desired urban resilience investment project, and accessing additional financing to realize these projects. CRP differs from a traditional infrastructure projects in that it tackles the key issue in urban resilience financing--the lack of a market to connect investors and city governments.
Yang Aijun / World Bank
Building urban resilience is a multi-million agenda, and oftentimes city governments lack the necessary funding. CRP helps cities expand and tap into extra sources of financing, through financing from the World Bank and other multi-lateral institutions, land value capture, and public-private partnerships.
Jimmy Harris / Flickr
Leveraging the World Bank Group's broad sectoral expertise, CRP supports cities to address the different elements that comprise urban resilience, including infrastructure, institutions, and governance.
This phase focuses on preliminary assessments to define the set of activities needed to strengthen urban resilience. It also focuses on developing initial understanding of a city’s readiness to deploy various private capital mobilization instruments, including raising commercial debt, structuring PPPs, and leveraging private capital from land value capture transactions.
This phase focuses on technical working group engagements with client cities to carry out in-depth technical assessments. On the other hand, CRP will involve financial advisory firms to produce a Capital Investment Plan which includes a menu of transaction options and Capital Budgeting to define the sources and use of funds.
This phase will see the implementation of the identified investment project through World Bank loans and co-financing from other multilateral institutions, or through private sources via public-private partnerships or land value capture.