CRP's vision is to build resilient cities with the financial and technical capacity to prepare for, mitigate, or prevent adverse impacts of disasters and climate change.
The CRP engages cities in a long-term partnership to identify areas of need and opportunity and to deﬁne a robust response towards building resilience. A broad coalition of experts accompanies each city-level engagement from design to implementation to ensure a risk-based, integrated and comprehensive approach. Private capital experts support cities to develop a pipeline of resilience-building investments and expand the ﬁnancing options available to them.
CRP focused on refining its approach and structure to be most effective in channeling technical and financial support to cities. As a result of this, CRP established two support tracks that run in parallel.
Track 1: Resilience Enhancement
Improve upstream urban planning and integrate resilience by working across sectors to identify key development challenges and define investment programs that address such challenges.
Track 2: Capital Mobilization
Help cities crowd in extra financial resources to realize their urban resilience agenda through direct lending, concessions structuring/PPP, and Land Value Capture (LVC).
Phase I: Identification
This phase focuses on preliminary assessments to define the set of activities needed to strengthen urban resilience, as well as 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.
Phase II: Preparation
This phase focuses on World Bank's 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.
Phase III: Implementation
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.