Financing Cities of Tomorrow

 We emphasise the need for enhanced mobilisation of finances and efficient use of existing resources in our efforts to make the cities of tomorrow inclusive, resilient, and sustainable. To this effect, we endorse the G20 Principles for Financing Cities of Tomorrow, which are voluntary and non-binding in nature and the G20/OECD Report on Financing Cities of Tomorrow, which provides a financing strategy as well as presents a compendium of innovative urban planning and financing models. We encourage stakeholders, including the Development Financial Institutions and the MDBs, to explore the potential of drawing upon these principles in their planning and financing of urban infrastructure wherever applicable and share experiences from early pilot cases. We note the progress in outlining the enablers of inclusive cities. We also note the customisable G20/ADB Framework on Capacity Building of Urban Administration to guide local governments in assessing and enhancing their overall institutional capacity for the effective delivery of public services. We note the ongoing pilot application of the voluntary and non-binding Quality Infrastructure Investment (QII) Indicators and look forward to further discussion on their application considering country circumstances.

Reducing Disaster Risk and Building Resilient Infrastructure

This year, the G20 Presidency has catalysed efforts on disaster risk reduction in the G20 through institutionalization of the Disaster Risk Reduction (DRR) Working Group as noted by UNGA res. 77/289. We reaffirm the Sendai Framework for Disaster Risk Reduction (SFDRR) and recognize the need for accelerating its full implementation. To this end, we:

i. Urge for accelerating progress on Early Warning and Early Action through strengthening national and local capacities, innovative financing tools, private sector investment, and knowledge sharing.

ii. Continue to support augmentation of capabilities of all countries, including emerging economies, in particular developing countries, LDCs and SIDS, for promoting disaster and climate resilience of infrastructure systems. We welcome the Global Platform for DRR and take note of initiatives such as the Coalition for Disaster Resilient Infrastructure (CDRI) in furtherance of such collaboration and sharing.

iii. Promote mutual learning of recovery experiences applying all the principles of Sendai Framework.