Ed note: This article is part of a short series on financing smart city infrastructure, sponsored by Siemens. Please join us for a live Google Hangout with Siemens, PwC and Berwin Leighton Paisner on June 12 at 10 a.m. PT/1 p.m. ET, where we’ll talk about this issue live! RSVP Here.
The ‘Metro Cable, Linea K’ cable car in Medellin, Colombia stretches 1.2 miles into the neighborhood of Santo Domingo — creating a link directly from the city center to one of the city’s poorest areas.
Yesterday, we went over a few success stories told in timely and valuable report from Siemens, PwC and Berwin Leighton Paisner. Entitled Investor Ready Cities: How cities can and deliver infrastructure value, the report examines in some detail how cities that have “the appropriate foundations of institutional stability can leverage financial mechanisms to their advantage to help deliver the infrastructure that is so critical to their future.”
Here are three more inspiring snapshots that tell the story of cities moving towards a more sustainable future.
The second-largest city in Colombia, with a population of nearly 2.2 million in 2005, saw a threefold increase in population over a 20-year period. This came at a time when governance and power was concentrated at the national level and control of financing was distributed to nationally important projects. As a result, informal settlements appeared on the city fringes and up onto the precarious hillsides that surround the city, leaving residents disconnected from the commercial heart of the city and the employment opportunities they had sought to access.
“Poor infrastructure and lack of opportunity led to Medellin experiencing some of the highest levels of crime endured by any city across the globe,” according to the report.
In 1991, a new constitution increased the influence and powers of municipal governments. For Medellin, this meant the power, authority and responsibility to tackle these issues through strategic intervention that was to literally change the city landscape. Click to continue reading »
CONTINUES » Discuss This »