Looking towards the future of world urban development, cities of the global south will quizlet12/15/2023 ![]() This is where territorial development comes in. There is urgent need to stimulate sustainable, inclusive economic growth in these lagging lands and urban spaces. Thick and persistent divisions between places doing well and those that are not are exacerbating inequalities and human suffering, fueling discontent and disrupting development. The CCI has trained over 600 municipal officials from 240 cities in 25 countries. The World Bank’s City Creditworthiness Initiative (CCI) aims to strengthen the financial performance of local governments, and prepare them to tap domestic / regional capital markets without a sovereign guarantee. ![]() Johannesburg and Medellin are among the cities that have sought World Bank support to expand their sources of revenue to encompass a wider array of “value capture” and land-based financing tools, thereby leveraging private capital in greater amount and increasing the social, economic, and fiscal return on cities’ public investment.In Casablanca, Morocco, a EUR 172 million World Bank loan aims to improve the city’s investment capacity by improving the municipality’s revenue management systems, and attracting private investment in municipal infrastructure and services through public-private partnerships.In East Africa, the World Bank has an operational portfolio of almost $1 billion in urban projects focused on improving financial and institutional performance in Ethiopia, Kenya, Uganda, and Tanzania.This means that cities must strengthen municipal finance, while finding new ways to scale up urban infrastructure finance. Only 3% of this amount is available through official development assistance (ODA).
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