Investing to Reduce Urban Risks: Challenges for Local Governments Kyaw Thu, Programme Specialist UN-Habitat/Urban Research and Development Institute, Myanmar Progress • Development plans and strategies now takes Disaster and Climate Risk into account (E.g. City Climate Change Initiatives), however, gap is still there in terms of investment – In Myanmar decentralization is pursued for Cities, however no comprehensive or specific guidance exists to address Disaster and Climate Risk into the planning process • Global and regional support in Urban Development- city development strategies, master planning, transport, water provision, energy, communication, etc., (WB, ADB, JICA etc.) but sustainable public and private sector investment is needed for longer run including Public Private Partnerships • Initiatives such as 100 Resilient Cities provide strategy for cities to leverage bigger investment potential Challenges • Limited capacity to mobilize resources strategically within local governments – then leveraging and using the resources effectively – currently passive (and donor driven) • Attracting responsible private sector investment that will beef up, not hinder, resilience efforts; and managing risks associated with them is still a challenge in the region – Public Private Partnership and private sector engagement is limited in urban and infrastructure development, and limited engagement of urban resilience • Businesses, private sector investors, financial institutions, such as banks, and insurance sectors needs to be engaged more in the cross-sectoral partnership-building Challenges • For Myanmar, political reform and associated implications, and changing trend of macro-economics – Cities on trade routes, transport hubs, economic corridors, and cities along major regional economic development plans have challenges that comes with economic development and rapid urbanization • Local priorities needs to be aligned with national priorities and vice-versa in terms of investments and development plans incorporating resilience programming • Leadership, governance, urban/spatial policies and strategies, and legal and regulatory frameworks needs to be improved – Technical and institutional capacity is weak at the local level – Investment data and information needs to be streamlined