Financing Urban Development Workshop took place on the 27th April 2017 at the UN-complex in Nairobi, Kenya. This was a part of the Railway City Project: Revitalizing Nairobi City. In the workshop the attendees included representatives of Nairobi County Government, Kenyan Ministry of Transport, Housing and Urban Development, Kenya Railways, GoDown Arts Centre, Embassy of Sweden and more. The Railway City Project is supported by UN-Habitat and it ”will address how integrated mobility and transport system can be developed…The impact of this intervention are expected to reach far beyond the actual site, looking at how a more cohesive, integrated and sustainable development and growth of the central parts of Nairobi can be promoted.”
I was invited to speak about the financing of infrastructure investment, creditworthiness and the basis of cooperation. The other keynote speaker was Mr Hiroaki Suzuki, Urban Development Specialist, formerly with the World Bank.
In my speech I went into some detail about the concept of creditworthiness, claiming the it is about much more than being able to finance projects through borrowing. Basically, creditworthiness is about having a financially well-functioning entity, which of course is crucial even when credits are not needed. Another theme was financial cooperation between public sector entities and finally some thoughts about what values, rules and restrictions are needed for good and efficient cooperation. In the latter, I referred to the basic values of cooperatives and the research of Nobel Prize Laureate Elinor Ostrom about successful commons.
Lars M Andersson