Cities urged to leverage private support

The Global Infrastructure Hub (GIH) and IFC have suggested that cities around the world should use private partners to make up for shortfalls in funding.

According to the organisations, local governments do not receive enough public funding for infrastructure and essential services, but can compensate for this by partnering with the private sector to deliver critical infrastructure.

“Local authorities’ expenditures continue to rise while their revenues are projected to be 15% to 25% lower in 2021 than in previous years,” the GIH and IFC said.

Serbia’s Vinca landfill PPP was highlighted as an example of how cities could work in partnership with the private sector to help deliver significant change that would not be possible without an injection of private finance.

The views were discussed as part of a joint webinar between the IFC and GIH.