India’s Cities Need $2.4 Trillion by 2050 to Build Climate-Resilient Infrastructure, Warns World Bank

As India’s urban population is set to nearly double to 951 million by 2050, the World Bank highlights an urgent need for massive investments to make cities climate-resilient and sustainable. Without swift action, extreme weather events such as floods, heatwaves, and water stress threaten to cause mounting economic losses and human suffering.

 

Key Highlights: Investment and Climate Risks

 

The World Bank report titled Towards Resilient and Prosperous Cities in India estimates that India will require $2.4 trillion by 2050, scaling up to $10.9 trillion by 2070, to develop new urban infrastructure and services incorporating climate-smart, low-carbon approaches.

 

About 60% of existing cities could implement effective flood mitigation with an investment of $150 billion over the next 15 years, potentially saving up to 130,000 lives annually by reducing heat-related mortality.

 

Presently, India spends just 0.7% of its GDP on urban infrastructure, far below global standards, highlighting a significant financing gap that must be addressed through increased public funding and enhanced private sector participation.

 

The report calls for integrated urban flood risk management and heat mitigation measures, including better stormwater management, green spaces, cool roofs, and early warning systems.

 

State and municipal governments need strengthened financial autonomy and capacity to plan and implement climate-resilient projects while leveraging instruments like green bonds and access to international climate funds.

 

Key vulnerable cities such as Delhi, Chennai, Surat, and Lucknow face increasing threats from climate shocks, endangering economic growth and citizens’ lives.

 

The World Bank emphasizes strategic urban planning as an opportunity for India to foster sustainable growth, improve quality of life, and protect its rapidly evolving cities from costly climate damages.

 

This urgent call underscores the critical role of cohesive policy action and finance reforms to secure a resilient urban future for India.

 

Sources: Outlook Business, Times of India