New Cities Foundation expands network
The New Cities Foundation announces Citi as its newest corporate and first financial sector member. The objective of Citi and NCF's efforts will be dedicated to addressing pressing urban financial needs, and supporting cities' economic development and their pursuit of sustainable growth and prosperity. At the core of urbanization lies the financing challenge: demand from growing populations and the resulting strains placed on critical infrastructure is driving up costs, while traditional sources of funding are limited and unable to keep pace with demand. Citi will bring its global expertise on urban challenges in more than 1,000 cities worldwide, leveraging their international network of clients to bring ideas and innovative approaches to urban financing.