| Project Detail |
Project Name
Scaling Up Investments in Emerging Areas in the Water and Urban Development Sector
Project Number
58048-001
Country / Economy
Regional
Cambodia
Fiji
Palau
Papua New Guinea
The multiregional technical assistance (TA) aims to scale up investments in emerging areas within the water and urban development sector. It will support target developing member countries (DMCs) in better managing the impacts of rapid urbanization by supporting integrated urban and regional planning, urban regeneration, and low-carbon climate-resilient retrofitting. The TA aims to (i) strengthen the governance arrangements and institutional capacities of DMCs in smart, resilient, and sustainable tourism; social and affordable housing; and subnational finance; (ii) instill best practices in infrastructure delivery and urban regeneration through the adoption of an integrated urban, regional, and risk-informed planning process and climate-resilient investment frameworks; (iii) promote climate resilience in investments, encompassing the introduction of innovations that support low-carbon initiatives, including strengthening ecological resilience by applying green spaces, green building practices in urban areas, eco-tourism, and nature-based solutions; (iv) identify opportunities to implement financial and policy innovations and mechanisms that promote operational efficiencies and financial sustainability; and (v) promote decentralization, commercialization, and private sector participation in the water, urban, housing, and tourism sectors where feasible
Project Rationale and Linkage to Country/Regional Strategy
The rapid, unplanned urbanization and increasing tourism volumes in the Asia-Pacific, coupled with significant climate and disaster risks, requires urgent and more complex interventions and support from development partners. These efforts need to concentrate on enhancing governance, institutional capacities and urban infrastructure development, whilst supporting social inclusivity, environmental sustainability, climate and disaster resilience and economic growth.
To address urbanization trends, foster inclusive and sustainable growth, interventions will need to focus on strengthening institutions, while also providing the support to deliver physical infrastructure. While the provision of basic urban infrastructure, such as water supply, wastewater, and solid waste management remains important, there is a need to also support other investments, such as social and affordable housing, urban regeneration, and sustainable development all of which are critical factors that will attribute towards economic growth. Proposed solutions should therefore focus on supporting the application of integrated urban planning, transit-oriented development, energy efficiency in buildings, sustainable tourism, inclusive urban mobility, low-carbon transformation and decarbonization, nature-based solutions, and ocean health alongside innovative financing strategies for climate resilience.
Impact
Livability and resilience of cities in Asia and the Pacific improved |
