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Latin America and the Caribbean have one of the highest rates of urbanization in the world. Between 1975 and 2000 the economies of the most urbanized countries grew at a faster pace than others a result of the higher productivity of business and labor in urban areas, leading to better employment opportunities, higher wages and improved living conditions. The United Nations anticipates that by 2020, nearly 80 percent of the 600 million residents of the region will live in urban areas, a higher percentage than in most developed countries, with cities generating more than half of the gross domestic product of their countries.
Since its inception, and in response to the sustained interest of borrowing countries to invest in cities, the IDB has maintained an active portfolio of urban development projects, focusing on those that enhance the given city's capacity to respond to urban growth challenges and improve the overall living conditions of the low-income population. The IDB provides technical assistance and loans to:
- Increase the availability and quality of basic services in the cities for the low-income population, while reducing the adverse environmental effects of urban growth;
- Finance projects that transform the cities into productive economic centers; and
- Improve the effectiveness of the institutions responsible for the design and administration of urban development.
The Bank also undertakes applied research and develop strategies to guide its activities in key areas related to urban development including: municipal and regional development; urban poverty; and downtown rehabilitation and urban heritage conservation, communicating their experiences through technical meetings, seminars, and publications.
Last updated: 06/27/07
