BAKU, Azerbaijan, Apr. 30
By Zeyni Jafarov – Trend:
Improving the quality of life, social and economic opportunities in Asia's fastest-growing cities, play an important role in fulfilling their potential as accelerators of economic prosperity and centers of sustainable development, Trend reports citing the new publication of the Asian Development Bank (ADB) entitled ‘Creating Livable Asian Cities’.
The publication addresses the challenges of urbanization in the region and presents solutions in priority areas such as smart and inclusive urban planning, sustainable transport that ensures equitable access to services and opportunities, sustainable energy sources that minimize pollution, innovative financing to overcome resource scarcity and increase resilience to climate change and natural disasters.
ADB Vice President for Knowledge Management and Sustainable Development Bambang Susantono, who is co-editor of the publication, noted that urbanization has boosted productivity in the regions, but opportunities in cities were not available to all residents and further limited by the COVID-19 pandemic.
“Developing Asia is home to 17 of 33 megacities with more than 10 million inhabitants. More than half of the region's 4-billion population were living in cities in 2019, and another billion more are expected to migrate to cities in the next 30 years. So, by 2050, the level of urbanization in the region may reach 64 percent,” the publication said.
The governments of regional countries should focus on sustainable transport and energy, as they have a direct impact on the productivity of people, the dynamism of the economic activity of the city and the sustainability of the environment.
“Expanding access to finance will play an important role in helping cities meet the Sustainable Development Goals (SDGs) targets. Cities will account for about 70 percent of the $1.7 trillion in annual investment needed by developing countries to achieve the SDGs,”
The Asian Development Bank, which is committed to achieving a prosperous, inclusive and sustainable Asia-Pacific region, continues its efforts to eradicate extreme poverty.