Cities are home to nearly eight out of every 10 people in Latin America and the Caribbean. Rapid urbanization has created economic opportunities for millions of people, but it is also straining governments’ ability to provide basic services, guarantee quality of life, generate jobs and protect the environment.

The IDB helps member countries to build emerging sustainable cities through loans and technical assistance to strengthen their capacities for urban planning and regulation, invest in the rehabilitating of downtown areas and historical centers for heritage conservation, and in housing and neighborhood upgrading that improves infrastructure and urban services. The Bank also finances a variety of projects to expand urban transportation, promote local economic development, provide housing for low-income households, and create green spaces and parks.

In all its urban development programs, the Bank puts special emphasis on expanding local government’s institutional capacity by enhancing their fiscal, financial and planning systems.