We pledge to match your commitment with our support. Bank loans and credits can support urban policy reform and specific investments in the provision of urban services. This is a tripling of our efforts in this sector, and it responds to felt needs in the provision of urban infrastructure. But being demand-driven, it can go higher. And I hope that in the wake of Istanbul, it will.
Guarantees offer considerable potential for addressing the urban challenge.
They both leverage in private sector resources and allow for appropriate project risk-sharing across governmental units, leaving to the local authorities only the risks of contract performance under their control. IFC s urban infrastructure program is growing rapidly, including support for innovative programs in Argentina, Mexico, and the Philippines. We are advising on urban policy frameworks designed to promote financial sustainability and to facilitate private sector participation in the provision and delivery of electricity, financial sustainability, and water, transportation, and communications services. We are providing analytical services on social assessments, housing, urban, poverty, and environment, and on waste and water resource management. We are helping cities to develop environmental action plans, and to adapt prototype indicators for monitoring changes in the urban environment to their special conditions.