Cities in the developing world arerapidly expanding, boosting countries’ economies, reducingpoverty, and fueling global prosperity. But as more people,assets, and economic activity become concentrated in cities,and infrastructure struggles to keep up with rapid growth,the risk posed by natural disasters and climate change isrising. The urban poor – who are most exposed and least ableto cope – will be hardest hit, with up to 77 million urbanresidents potentially falling back into poverty as a resultof climate change alone. To help the urban poor unlock theirfull economic potential and protect hard-won developmentgains, the report discusses the need to invest in urbanresilience. Over the next 15 years, at least 400 billiondollars will be needed each year to make city infrastructurelow-emissions and more resilient to the wide range of shocksand stresses that cities may encounter. The flagship report-- co-authored by the World Bank Group and the GlobalFacility for Disaster Reduction and Recovery -- illustrateshow building urban resilience is critical to reducingpoverty and promoting shared prosperity. And while, over thelast five years, the World Bank Group has financed more than$9 billion in projects to help cities in 41 countries becomemore resilient, significant investment gaps remain. Toovercome these gaps, the World Bank Group and othermultilateral development institutions can play a criticalrole in enabling city and national governments leverage private
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