Infrastructure investment needs to do more than just maintain, replace or do more of the same sort of facilities. Infrastructure investment should also promote smart cities, sustainable development and resiliance.
This is explored in a recent article by Donal Power "Can UK smart cities projects harness $7bn in private funding?"
New research identifies nearly $7 billion in funding for U.K. smart city projects if players can tap into flows of private capital.
An article by UK Authority discusses the recent smart city research paper by Siemens Financial Services. The paper modeled private sector financing opportunities to make up the shortfall in public funds for British smart city projects.
After looking at private funding sources in 13 countries, the study concluded that the U.K. could rustle up $6.98 billion for such projects.
“Cities around the world are increasingly engaging in smart development to improve efficiency of local services, enhance sustainability, improve the lives of their citizens and develop their competitiveness,” said Siemens Financial’s Chris Wilkinson. “Private sector asset finance allows cities to make the full range of SmartStart technology investments in a timely manner.”
SmartStart is a phrase used to describe smaller-scale, early stage smart city projects. Siemens Financial estimates that the top 40% of U.K. cities could be raising private sector asset financing for these types of projects.
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