Union Finance Minister Nirmala Sitharaman has stressed the need to augment private-sector partnerships in financing future cities. Addressing the Investors’ Dialogue, at GIFT City in Gandhinagar today, Ms Sitharaman said innovative financing by the private sector in urban infrastructure is imperative for the creation of sustainable and resilient future cities. She said in view of the rapid urbanization, cumulative climate investment needed for cities is estimated to be 29.4 trillion dollars during 2018-2030.
The Finance Minister said innovative financing strategies such as blended finances, and payments for ecosystem services, can fill the gap the financing and propel the economic growth of the cities. She also stressed on better policy and regulatory framework to promote public-private partnerships in infrastructure financing.
