New Cities Foun­da­tion ex­pands net­work

The Pak Banker - - 6BUSINESS -

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.

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