Can Tho, Vietnam Context: Statement of Problem Thematic context. Urbanization that goes beyond the scope of single The livelihoods of poor people is the defining phenomenon of sector engagements. in cities depend on fewer assets. the 21st century and government Their consumption is closer to investment priorities are shifting As cities grow, so does their subsistence levels and they often as a result. For the first time in exposure to natural disasters. cannot rely on savings to cope with history, more than half of the Increasing population and wealth shocks. Thus, a loss of $1 affects world’s population lives in cities, lead to an expansion in the quantity poor and marginalized people far with 90 percent of urban growth and value of the building stock more than those who have access taking place in the developing and infrastructure. The risk that to more assets. A shock can be world1. Cities provide a diverse growing cities face may further disastrous for poor people while range of services to their residents be exacerbated by haphazard and only negligibly affecting a country’s and are increasingly responsible unplanned development. Many of aggregate wealth. This challenge for finding the means to fund the disaster risks in urban areas are perpetuates poverty traps, making them. Engaging directly with cities created by the ways that people it more difficult for poor people provides opportunities to holistically locate, design, construct, and who are impacted frequently by address multi-sectoral development provide services. In the absence shocks to emerge from poverty.2 challenges and to leverage of formal solutions, poor people This cycle is being intensified by the alternative sources of finance, disproportionately build their lives in growing frequency and severity of including from the private sector. areas where they are highly exposed hydro-meteorological events due to This includes investments in city to natural disasters. climate change and environmental resilience, which require an approach degradation. World Bank’s Development Indicators (2016) 1 “Hallegatte, Stephane; Vogt-Schilb, Adrien; Bangalore, Mook; Rozenberg, Julie. 2017. Unbreakable: Building the Resilience of the Poor in the Face 2 of Natural Disasters. Climate Change and Development;. Washington, DC: World Bank. 2 City Resilience Program Dar es Salaam, Tanzania The Program will build on the extensive wealth of assists cities to improve their creditworthiness to enable experience from active and past technical assistance them to access financing for low-carbon infrastructure engagements and lending, in order to support project teams projects. in delivering greater value to cities. In that sense, the CRP builds off of key programs and activities that have served Investing in Urban Resilience Report: Published in 2016, as a foundation and informed the development of CRP, a the Investing in Urban Resilience Report highlights the need couple of which are described in the section below. and potential for investing in urban resilience in low and middle-income countries. It does this by demonstrating CityStrength Diagnostic: The CityStrength Diagnostic why the international development community should care is a rapid diagnostic that aims to help cities enhance about making cities in the developing world more resilience, their resilience to a variety of shocks and stresses. The understanding why shocks and stresses disproportionately CityStrength Diagnostic first evaluates sectoral resilience affect the poor, identifying financing needs and obstacles and then brings together the findings to identify the to overcome, and setting out a vision for how the World interlinkages that determine the resilience of a city. With Bank Group can facilitate more public and private sector that information, the CityStrength Diagnostic prioritizes investment in urban infrastructure. actions to enhance the overall resilience of the city. The CURB Tool: The CURB Tool is an interactive planning The CRP will be built on the principle that institutional tool designed to help cities take action on climate change reforms for infrastructure and finance enable cities to to improve health and air quality, expand the economy and develop in more informed, less at-risk ways. Policy reform is create jobs, and move toward energy independence. The a key enabler and the governance systems that implement CURB Tool is interactive and designed specifically to help these reforms are critical for creating local capacity. cities take action on climate by allowing them to map out Proactive investments in geospatial data platforms, legal different action plans and evaluate their cost, feasibility, and and institutional arrangement reform, cadasters, and impact. risk information systems are not only essential parts of resilience building but are the crux of a holistic approach to City Creditworthiness Academy: The City Creditworthiness urban development. The foremost priority of the CRP is to Academy offers an intense set of training modules ranging from revenue management to climate smart capital facilitate investments that go beyond the scope of sector investment planning, from debt financing options to the specific engagements, fostering cities that have robust, enabling environment for sub-national finance. Follow on concurring, and adaptive policies, systems, finance and support to help cities implement the action plan is provided infrastructure assets that support citizens’ needs and are, under the broader City Creditworthiness Program, which therefore, resilient. City Resilience Program 3 Strategic context. Global targets better connect and leverage value level engagements across key for climate change adaptation, across all three. In a single stream sectors by providing a platform mitigation, and poverty reduction approach, a public transport project for resilience-building investment are all impossible to meet without (infrastructure) may only consider planning in areas of infrastructure, city governments becoming overall economic impact in terms of governance systems and finance. much better at creating resilient change in transport user benefits, CRP will help task teams create urban environments. Along change in system operating costs an enabling environment for cities with addressing the challenges and revenues, change in externality to make coordinated investment of disaster and climate risks, costs and investment costs. This packages that holistically seek to the additional complication of would provide a quantification of a increase resilience. This ASA will rapid urbanization in developing tangible benefit but not a long-term support the development of CRP countries requires substantial solution to improving the resilience engagements in cities through and well-planned infrastructure of the client city’s economy. An projects that will be managed by investments to meet resource integrated approach would enable demands and enhance economic that same engagement to consider a network of task team leaders, growth as well as to mitigate urban challenges holistically and and will support the foundation potential damages and losses from include supplementary activities such of strategic partnerships for the natural disasters. as an assessment of infrastructure program at the global level. policies and manuals to improve For many major cities in the construction standards (governance world, reaching acceptable levels and systems) or a review of private Development of resilience is a multi-billion capital financing opportunities dollar agenda that requires strong (finance). The result would be a better Objective partnerships and new sources of project – higher quality construction The development objective of the capital. Globally, it is estimated that and lower public investment – CRP is to catalyze a shift from a US$4.1 trillion to US$4.3 trillion and would also fit into a better primarily siloed, single-stream city- will need to be spent on urban coordinated long-term strategy to level operations approach to longer infrastructure per year merely to improve resilience incrementally term, more comprehensive, multi- keep up with projected growth in and strategically over time. By disciplinary packages of technical a business-as-usual scenario. An simultaneously and iteratively and financial services, building the incremental 9 to 27 percent (US$ making progress concurrently across pipeline for “Bankable” projects 0.4 trillion to US$ 1.1 trillion) will the infrastructure, governance and at the city level that, in turn, build be needed to make this urban systems, and finance streams, cities resilience. infrastructure low emission while can become increasingly capable of To achieve such an outcome, also disaster and climate resilient.3 addressing disaster and climate risks and urban development challenges important emphasis will be put Most city-level projects supported in a comprehensive manner. In turn, on the infrastructure cascade and by the World Bank have focused poverty alleviation becomes a more on crowding in different sources primarily on one of three streams: achievable objective. of multilateral development bank, infrastructure, governance and bilateral and private capital funds in systems, or finance. However, to The City Resilience Program (CRP) order to leverage greater impact on become resilient, cities need to is an effort to consolidate city- the resilience of cities. CCFLA, “State of City Climate Finance 2015” (New York, USA: Cities Climate Finance Leadership Alliance (CCFLA), 2015. 3 4 City Resilience Program Activity Description 2. City-Level Engagements 1. Global Program Activities mapped to the City-Level Development Key activities of the CRP are structured to fit strategically into two Engagements Pillar focus on the Providing a robust and streamlined pillars: delivery of all client-facing aspects programmatic base is essential for of the CRP, including programmatic ensuring maximum added value 1. Global Program support to World Bank task teams to cities selected to engage in Development in the form of technical and financial CRP. This requires global program assistance. This includes a three development activities in a number Activities mapped to the Global phased approach of support. The of key areas: Program Development Pillar focus first is the delivery of just-in- on building, refining and effectively time (JIT) financial and technical Developing a robust operational communicating the necessary tools support to task teams for project framework. The CRP intends to and application to ensure that the scoping, which will help define generate a deep repository of principles and approach of the CRP the key areas of intervention. case studies and example terms of can be implemented by task teams Once an engagement strategy references for each of the diagnostic in the regions. This will first require has been developed through the assessments described in detail in the a consolidation and streamlining JIT, the second phase is technical city-level engagement section. The of implementation support across sectors, and will then aim to develop assistance and grant support for purpose is to ensure that program new solutions to better support task customized diagnostic assessments consolidates and replicates best teams in effectively engaging across and brokerage of co-financing practices in order to deliver the best the wide range of elements comprising opportunities for investment tools possible for task teams at scale. the CRP. Specific activities under projects. The third phase will be Such a repository will help task teams the Global Program Development direct co-financing of new Bank to develop an appropriate execution Pillar include: the development of projects, including bi-lateral strategy that is ready to implement a robust operational framework; grant money, multilateral lending, immediately. This section includes the development of programmatic and private sources of capital. the refinement of the City Resilience applications and Working Groups Activities mapped to the City-Level Program tools and the development engaged in key areas; the building Engagements Pillar will be led of an “Alpha TOR”, which would of a toolkit for private capital; the and managed by World Bank task provide the operational framework nurturing of external partnerships; teams and will draw from resources for each area of engagement and the development of knowledge developed in the Global Program that task teams could customize management tools to ensure that Development Pillar in order to according to the local context. The projects are being effectively provide tailored solutions to client CRP core team will work with each monitored and lessons documented. cities investing in resilience. participating task team to help design Activities under the Global Program and develop a customized approach Development Pillar will be managed Figure 1 is a workflow schematic to city resilience that is based on the centrally and will contribute to city- that organizes the program client demands and CMU authorizing level engagements by providing back- activities and operational environment. end resources and technical advice relationships according to these that will help facilitate task teams in two pillars. The individual activities Developing programmatic delivering more comprehensive, multi- are described in detail in the applications and working groups disciplinary packages of resilience- subsequent section. (WGs). Certain areas of CRP building investments. engagement require further City Resilience Program 5 Figure 1. CRP workflow schematic expansion and could benefit from The WGs will develop new how their work contributes to the development and streamlining applications and tools and will the advancement of CRP program of new applications and tools. To be engaged to provide continued development and broader CRP address this challenge, a few WGs development and input into terms objectives. The CRP has identified have started to take form in an effort of references, market surveys, ten preliminary thematic areas to streamline support to CRP teams. consultant rosters and case studies around which WGs could be As much as possible, CRP will crowd in support of task teams. The established and/or catalyzed where in existing Bank programs, KSBs and development of these materials proposals for JIT funding will be other initiatives in an effort to focus will be guided by the CRP core considered immediately: on consolidation and unlocking team and will be used as resources rather than creating parallel teams to support streamlined and • Emergency Preparedness & and systems. However, it is also effective city-level execution. WG Response expected that new WGs will be team members are also expected • Open Data for Resilience Initiative established around areas of CRP that to be resources in themselves, and City Planning Labs require additional and substantial providing guidance to task teams to programmatic development streamline specialized engagements • Land Value Capture and unserved by existing Bank initiatives. and, in certain circumstances, be Concessions This activity will provide JIT funding engaged wholly by the task team. • Credit Worthiness Academy of up to $25,000 to support Each WG considered for JIT funding • Building Regulations & Resilience the development of targeted must provide a rationale and clear applications and tools that aim to description of concrete activities • Scalable Social Protection advance elements of the CRP. and outputs and must demonstrate • Resilient Urban Transport 6 City Resilience Program Lima, Peru • Seismic Resilient Water Supply technical input and alternative (AIIB), the Asian Development Bank and Sanitation perspectives into WG activities. (ADB), the Islamic Development • Disaster Risk Financing and Bank (IsDB) and similar such groups. Insurance Building a toolkit for private The third type of investment the capital. The CRP will engage CRP team will seek to crowd into • Global Program for Safe Schools with investment industry groups investment projects is private and with cities to build broader capital, in a variety of forms. The establishment of additional understanding on the private sector WGs will be considered around definition of resilient infrastructure Sources of private capital can be further important topics including investments, and will construct a broken into three broad categories, cadaster updates and reform, global overview of cities on the basis including debt, concessions, and involuntary resettlement working of their financial and regulatory equity and each of these three group, risk assessment and analysis, readiness to access capital markets. categories has a spectrum of nature based solutions and green infrastructure, mass social The objective is to consider Bank sophistication of engagement. organization and community level financing more of a leveraging tool Of each category, debt is least engagement, among others. It is than a solution on its own. There flexible and requires the highest proposed that pitch events would are three types of external funds level of regulatory and institutional take place on a bi-annual basis that the CRP core team will seek development to catalyse sub- that would enable new groups to leverage under each new urban national lending transactions. to propose the inclusion of their resilience investment. The first is These transactions can take the working group in the platform and grant resources, contributed by bi- form of on-lending from, inter for JIT financial support to catalyze lateral agencies, which aim to deliver alia, national government and further development of WGs. WGs high level and complex technical infrastructure facilities, private are expected to draw heavily on assistance to support investment bank lending, and the sale of expertise from outside of the GP, projects. The second source of municipal bonds. With regards to including colleagues from transport funding is co-financing of loans from concessions, sometimes known as & ICT, trade & competitiveness multilateral agencies such as the public private partnerships, these and others who can provide critical Asia Infrastructure Investment Bank transactions closely represent debt; City Resilience Program 7 however, they differ in that the ultimate identify opportunities to Rockefeller 100 Resilient Cities, private investor and/or developer raise private capital, a diagnostic C40, Bloomberg Philanthropies, takes a range of additional risks must be completed to assess City Climate Finance Leadership from financing, construction and where a city lies on the spectrum Alliance, and Medellin Collaboration operations, in return for profit. of sophistication. For the debt for Urban Resilience. The CRP The third source, equity, can be and concessions side, most of will also leverage partnerships earned by cities by capturing this material has been developed across the urban resilience space incremental increases in land value. through the city creditworthiness with bilateral and multilateral Land value generally increases program, which will be tailored for development partners involved in when governments change policies a single city diagnostic. The debt/ high-profile and innovate urban with regards to land development concessions diagnostic will be resilience projects and funds, and when they finance public complemented by a new diagnostic including the Asian Development infrastructure to develop, or for land value capture. Such a Bank and UNDP. The CRP will redevelop, specific sites. In the diagnostic will be informed by the provide a uniform point of contact context of resilience, this will often toolkit described above and a first at the World Bank in the urban mean the reduction of vulnerability draft will be completed by fall 2017. resilience space for external in specific areas, through reduced Once the comprehensive diagnostic partners. The clarity and innovation climate and disaster risk, or is completed, a consultant will that the CRP will provide positions redevelopment of brownfields and execute it in selected cities that are the Bank to take a stronger areas of blight. Transactions can be identified as high potential for such leadership role going forward in this as simple as the direct sale of land transactions and the methodology space. to as sophisticated as tax increment will be refined based on the results. financing. Knowledge management. The CRP To raise funds, the CRP core team will create a mechanism to monitor A toolkit, including presentations, will serve as the investment banker project-level engagements, develop methodological notes and Terms of for the task team and city. In city-level case studies, and capture Reference will be prepared to help other words, the CRP team will: policy, finance, and technical lessons task teams and clients understand support the development of the learned from the city engagements. these concepts and how they are investment program; identify specific Case studies will focus heavily on applicable in their specific city transactions structures; prepare private capital financing. However, contexts. These materials will help the marketing materials to shop case studies will also be developed teams identify and explore all the transactions to investors; and that focus on other areas, including available options to leverage private support the design of the transaction specific program elements and start capital given the constraints and processes. In this regard, the to finish examples of both failed and opportunities available in the local operationalization of linkage between successful engagements. The CRP context. The toolkit will also help infrastructure and finance to ensure intends to develop a knowledge teams identify systems and reforms resilient investments comes at the platform, similar to what has been that require investment now to city level. created for the Resilient Transport further unlock private capital in the COP, in the first year of the program future, including land value capture, External partnerships. The CRP will implementation. Development of the concessions and debt financing. continue to find ways to leverage knowledge management platform external partnerships engaged will benefit from engagement with To inform each private capital in urban resilience initiatives the Knowledge Management Team dialogue with clients, and to around the world, including: of GPSURR. The CRP will also 8 City Resilience Program Figure 2. CRP city-level engagement program develop a series of BBLs and internal interested and ready to benefit from analysis of the legal and institutional World Bank events, including a the CRP and the World Bank Groups arrangements of a city that describes launch event, which would aim services related to city resilience. the roles and responsibilities of to bring together and synthesize each city department involved in outputs of the WGs and disseminate Figure 2 outlines the programmatic planning, implementing or supporting information broadly. The events structure of CRP, which presents a aspects of activities that impact would also serve to attract task flexible framework for engagement a city’s resilience while offering teams to engage with CRP in high- with selected cities. The framework opportunities for reform and potential city-level engagements. consists of cross-cutting foundation improved coordination. This also elements that form the base for includes outlining a city’s ability to all engagements, and additional finance investments, relevant national elements selected by client cities and regulatory frameworks and generally 2. City-Level Engagements task teams considering the needs developing a strong understanding The development impact of the and opportunities of the specific of the role of central and city-level program will happen through city- context. These subsequent elements actors across finance, governance level engagements led by World are broken into three thematic areas: and political buy-in. Cross-cutting Bank task teams. The “change infrastructure, governance and activities will be complemented by agents” are the task teams who have systems, and finance. an assessment of the existing status the city level client relations and the of the data available for the built ability work with CMUs and clients Cross-Cutting Foundation. The environment. Such an assessment in order to identify cities that are foundation of CRP includes an will inform a roadmap as to what data City Resilience Program 9 needs to be digitized or collected, management information systems; provide holistic solutions to building and populated on a single platform geospatial planning platforms; resilience across the thematic areas to help decision makers better cadasters; and social protection outlined in the section above. understand the complexities of the systems and safety nets. The three phases include: project built environment. In addition, risk scoping, diagnostic assessments and information will be collected and Finance. A core objective of the investment projects. analyzed to help city officials to program is leveraging the Bank’s better understand the risks they face. balance sheet to deliver greater Phase 1 – Project Scoping: Phase resources to cities. This would 1 defines the engagement strategy. Infrastructure. This section include crowding in co-financing Task Teams that have identified high- comprises the physical works that from other MDBs and bi-lateral potential client cities can apply for would be financed in a developed agencies around a single investment JIT funding of up to US$25,000 from investment program. It is expected program. Crowding in private capital the CRP to develop a pre-formatted that each project would incorporate is also a core emphasis, with three proposal for city level engagement a series of the investment modules, different types of capital being strategy to the client city. In parallel, which are categorized around the identified. The first is improving the private capital questionnaire will areas of: flood risk management; city credit-worthiness so that be completed to assess where each housing; informal settlement cities can borrow from banks and city sits on the spectrum for debt, upgrading; emergency management private investors. The second is concessions and land value capture. systems; resilient infrastructure helping cities better understand and This will include the verification systems; and, nature based solutions structure concessions to private of underlying market conditions and green infrastructure. developers, which transfer financing, or investment climate, such as the construction and operating risks to macroeconomic situation, land, Governance and Systems. This the private sector. The third, and housing, property markets. Teams section focuses on the tools that perhaps most lucrative opportunities will then select and customize governments need to effectively focus on helping cities capture the model Terms of References for the implement policy reforms that increase in land value that result in phase 2 diagnostic assessments improve the resilience of the client a reduction of vulnerability made according to local context and city engaged in the CRP. Emphasis possible through public investments. specific identified investment in this area is critical given the CRP will also provide tools and projects across each stream. A common disconnect between the the rationale to help city-level report summarizing the various desire of city officials to develop stakeholders guide engagement and proposals will be prepared on an policy reforms, and the tools that secure guarantees from national annual basis in order to present the are necessary to translate those government stakeholders. program and to communicate the reforms into concrete actions. These various approaches in each city to systems each play a role in better Task teams implementing activities management, clients and donors. understanding and managing the under the City-Level Engagements Through this process, the CRP built environment with the objective Pillar will follow a phased team will better understand the key of improving areas including: progression of implementation working groups to nurture over time, the operation and maintenance illustrated in Figure 3. Engagements and curate based on client demand. of infrastructure; the quality of are designed in three phases to construction of public and private ensure the proper development Task teams receiving JIT funding infrastructure; risk management of programs that are tailored to are expected to have significant information systems such as flood the context of the client city and familiarity with the client city, 10 City Resilience Program Figure 3. CRP city-level engagement process in the resilience space. These financial resources, and technical support from the CRP team will provide task teams an opportunity to reevaluate their engagements under the same structure to determine whether there is scope to expand and improve the nature of the operation. This will also PROJECT DIAGNOSTIC GOVERNANCE SCOPING ASSESSMENTS AND SYSTEMS provide an opportunity for CRP to provide an immediate impact to existing operations that already have built relationships, business and momentum in high-potential cities for broader engagement. At the same time, task teams that including a basic understanding governance, finance and politics. have already moved beyond the of the city’s operational structure, To do so, and to successfully scoping phase on their own may political and investment climate complete a project scoping draw support from CRP without and broader development needs. exercise, requires that a majority availing JIT support at later stages Task teams should use JIT funding of the engagement should be of investment where requested. to further develop rapport with conducted by local experts. The A flexible entry for engagement is the client city and develop a purpose of this first engagement is required to ensure that CRP can pragmatic roadmap of what can not to provide outside expertise; provide added value immediately feasibly be achieved through an rather to gain a holistic sense of to task teams working in the urban engagement. Task teams should the enabling environment and resilience space. be able to apply this contextual assess the potential of the city for knowledge to the development making investments in resilience. Phase 2 – Diagnostic Assessments: of an investment strategy for It is expected that some level of Task teams that have successfully urban resilience, which would be capacity support to client cities completed Phase 1 are eligible for submitted to the CRP as a pre- will be required going forward Phase 2 support. In phase 2, CRP formatted deliverable following to support the development of offers TORs to enable delivery of completion of the JIT scoping a holistic foundation in urban the identified needed diagnostics, exercise. Client city buy-in and resilience, including in areas with market intelligence to help teams CMU support is also essential to high potential to leverage private optimize the procurement process, unlocking further engagement, finance to achieve identified and for selected engagements, and it is expected that an resilience objectives. Identification grant resources of approximately identified client city shows a of diagnostic assessments must be US$500,000 to US$750,000, demonstrated interest and need. finalized with the identified client and in some cases, up to US$1 At the same time, it is important city upon completion of Phase 1. million per engagement, to pay to understand the nuance of for the engagement process and central and city-level actors, and The JIT funding will also be analyses. It is expected that, the relationship between the available for certain existing city- in phase 2, Task Teams seek to two, particularly in areas such as level engagements already working identify capacity weaknesses and investment opportunities in between donors and task teams Expected Results the city. Task Teams will use the to deliver significant amounts resources to hire firms and/or of grant support that are critical and Outcomes individual consultants to execute to delivering robust technical The program expects to engage in-depth assessments ranging assistance to clients in the in 30 cities in 4 years, leveraging from emergency preparedness and framework of Bank-financed US$1 billion from MDBs and US$1 response diagnostic to assessing investments. The experience of billion from private capital over the the authorizing environment for Can Tho, Vietnam, which includes duration of the program. A majority improved municipal finance as US$250 million of Bank financing of the leveraged financing, US$500 outlined in Figure 2. Findings from and US$10 million of SECO co- million each from MDBs and private the diagnostic assessments provide financing, will be the model for capital are expected to be delivered the foundation for Task Teams and support within this phase. Other in the final year. Within the World client cities to finalize and prioritize sources of debt financing from Bank specifically, the target is to Phase 3 investments. Phase 3 MDBs and donors will be a parallel increase urban resilience financing corresponds to most of the steps in effort in order to leverage the from US$2 billion to US$4 billion a typical project cycle. Bank’s financial support to the a year. The expected outcome investment program. of these engagements would be Phase 3 – Investment Projects: improved social, physical and The CRP will also offer support For this work, GFDRR will establish financial resilience of participating for outreach to donors, MDBs, a stand-alone single or multi-donor cities. For each outcome indicators, and other co-financing partners, trust fund (MDTF) to channel funds the CRP will only consider projects as well as operational support quickly to countries. Donors would that have received funding directly to task teams to create the co- have the option to co-finance specific from CRP or engaged substantially or parallel- financing vehicles investments in urban resilience in with WGs to improve and/or expand financed with private capital. It is addition to contributing to city level the scope of their project. This will expected that phase 3 involves engagements and a global program be informed by robust and regular the approval and implementation of activities. In most cases, these impact assessments, such as TTL of a World Bank Group financed projects are to be executed by surveys, to measure the value added operation that addresses identified the WBG in order to benefit from to task teams directly and improve capacity weaknesses and leverages existing access to technical and the program going forward. opportunities to operationalize a analytical capacity across fields of The aim of the program is to series of prioritized investments risk modelling, transport systems, take cities from being reliant on to holistically improve urban water supply and sanitation, building international lenders and consulting resilience. This includes building materials, geospatial data, and firms for knowledge, skills, and capacity across the three streams of insurance and finance, among others. funding to being self-sustaining in infrastructure, systems, and finance The CRP model will thus ensure their pursuit and execution of resilient through a series of investments that client cities will have access development projects. By enrolling ranging from city-level flood to top-tier tools and training, to be client cities and task teams in the investment programs to regulatory combined with private resources engagement process and focusing reform for city borrowing (see that can finance their use, and local their efforts around the three Figure 2). knowledge to keep communities investment typologies – infrastructure, involved and informed such that they governance and systems, and finance Particular emphasis will be can continue to pursue resilience in – the CRP would enable cities to dedicated to brokering financing the future. holistically improve urban resilience Colombo, Sri Lanka and build capacity for future A core objective of the program helping cities capture the increase in iterations of this work. is leveraging the Bank’s balance land value that results from reducing sheet to deliver greater resources vulnerable in a given area through The program will prioritize cities to cities. This includes crowding in public investments in infrastructure. with populations of over 1 million co-financing from other MDBs and The CRP will provide tools to people as these will, typically, bi-lateral agencies around a single help city-level stakeholders guide have sizable at risk populations investment program. Crowding in engagement and secure guarantees and can offer optimal market private capital is also a key emphasis, from national government and regulatory conditions for with three different types of capital- stakeholders in order to de-risk their program engagements. Secondary, raising activities identified. The first proposed investment programs. megacities and capital cities is improving city credit-worthiness This results in the development of will also benefit from support; so that cities can borrow from banks a portfolio of urban resilience work however, there is likely more and private investors. The second and a pipeline of “bankable” projects. scope for transformative impact is helping cities better understand CRP provides a platform for the in fast growing, medium sized and structure concessions to integration of city-level activities cities with over 1 million people. private developers, which would and encourages staff with different The CRP, designed to build on transfer financing, construction and/ expertise to work together. CRP WBG experience and expertise, or operating risks to the private also provides a platform for Bank aims to address critical urban risk sector. The third, and perhaps most participation in globally relevant scenarios. lucrative opportunity, focuses on mediums on Urban Resilience.