Mayors Forum
Lee Kuan Yew World City Price
Young Leaders
City Solution Singapore
 

Financing a Sustainable Urban Future

Co-organised with the Institute of Real Estate Studies, NUS

Synopsis

This thematic forum discusses the opportunities and challenges that cities face in financing a sustainable urban future. The two main areas of discussion are: Infrastructure Financing for Developing Economies and Life-Cycle Financing for an Ageing Population.


Session 1: Financing the Infrastructure Gap — The Road Ahead

Date: Wednesday, 13th July 2016
Time: 9am - 10.30am
Venue: Sands Grand Ballroom E, Level 5

Why does the "infrastructure gap" – estimated by the World Bank to be an annual shortfall of about US$1 trillion – continue to persist?  Several factors contribute to this unmet demand for infrastructure, especially in developing countries. The rapid pace of urbanization often leads to the acceleration of infrastructure demands. The long gestation periods of these projects compound the issue by extending economic, political, and institutional uncertainties. Governments alone cannot shoulder this looming infrastructure gap. Private commercial lenders, institutional investors and multilateral development banks all have an integral part to play in realizing a sustainable urban future. What are the key trends and developments that will change the way infrastructure is financed? From developing credible projects to lowering barriers to investment and facilitating long-term capital, how can various players and stakeholders bring change? 

Chairperson :
Yumiko Noda, Partner, Head of PPP and Infrastructure (Asia Pacific), PricewaterhouseCoopers

Speakers :
Amy Leung, Deputy Director General, East Asia Department, Asian Development Bank
Clive Kerner, CEO, Clifford Capital
Terry Fanous, Managing Director, Moody’s Investors Service
Pete Daw, Director, Urban Development, Global Centre of Competence Cities, Siemens

Session 2: Life-Cycle Financing for an Ageing Population – Managing Future Demands

Date: Wednesday, 13th July 2016
Time: 11am - 12.30pm
Venue: Sands Grand Ballroom E, Level 5

In the coming decades, the demands of an ageing society are set to intensify. These demands raise concerns on healthcare and exert pressures on financial resources. This issue is manifested in many countries but could be exacerbated in many Asian cities. Breadwinners of Asian families usually spend a large portion of their income over their working life to pay off housing debts. They accrue substantial housing equity (wealth) over the years, but they have little cash to support their consumption and medical needs at retirement. These households are often vulnerable to housing market shocks. In addition, two major risks – longevity and inflation on household savings – have to be considered. In this context, an understanding of life-cycle financing will be crucial to securing a sustainable future for urban households. What implications will wealth allocation and consumption behavior of urban households have on social-economic policies aimed at improving quality of life, as well as meeting healthcare and consumption needs of the aging cohort? 

Chairperson :
Yongheng Deng, Provost’s Chair Professor of Real Estate and Finance, Director, Institute of Real Estate Studies, National University of Singapore

Speakers :
Joseph Cherian, Director, Center for Asset Management Research & Investments, National University of Singapore Business School
Man Cho, Professor Korea Development Institute & The KDI School
Mark Whatley, Senior Consulting Actuary and Director, Benefits, South East Asia, Willis Towers Watson
Dr Jeremy Lim, Partner, Singapore and Head of Health and Life Sciences, Asia Pacific, Oliver Wyman
Jürg Wichtermann, Chancellor (Chief Administrative Officer) of Berne, Switzerland