Convergence of Governance and Finance in Implementing the New Urban Agenda

The Quito Declaration of the New Urban Agenda calls for the adoption of policies and actions based on fundamental drivers of change including by “supporting effective, innovative, and sustainable financing frameworks and instruments, enabling strengthened municipal finance and local fiscal systems in order to create, sustain, and share the value generated by sustainable urban development in an inclusive manner.” How effectively the global community is able to deliver on the New Urban Agenda therefore depends on the mobilization of all sources of finance—including private investment, domestic resources, and development cooperation—and the ability of governments at all levels to translate revenue into inclusive and sustainable models of delivering basic services that provide large-scale benefits to urban residents in a sustainable manner over the long-term. We have learned many lessons about how governments, the private sector, and development agencies can to work together to finance and promote sustainable urbanization. We have also seen that even promising approaches to mobilizing and effectively using resources for urban development can be derailed by unforeseen challenges. To make meaningful progress on the New Urban Agenda and the 2030 Agenda for Sustainable Development, all actors will need to build on past lessons and identify innovative ways to foster an enabling environment that can mobilize and effectively deploy all sources of finance for inclusive, equitable, and sustainable service delivery. Among the questions this session will address are: ●What are the challenges in mobilizing private sector investment to support pro-poor models of service delivery? How have local governments overcome these challenges? ●What are the greatest impediments to domestic resource mobilization? How can governments and civil society work together to mobilize and use domestic resources to tackle urban development challenges? ●How can development cooperation help strengthen local institutions and unlock capital for urban development? ●What models have been effective in promoting financially sustainable, pro-poor service delivery? What role should civil society play in ensuring that resources are allocated effectively to benefit all urban residents? ●What new forms of partnership between governments, civil society, and the private sector can support implementation of the New Urban Agenda?