With Asian cities growing by over 100,000 people a day, a major rethink is needed on how cities manage growth because the current approach is no longer economically, environmentally or socially sustainable, the Asian Development Bank (ADB) said at the World Cities Summit. Speaking in Singapore, ADB President Haruhiko Kuroda said providing jobs and services for the 1.1 billion people who will move to cities in Asia over the next 20 years is a task of ?magnitude never before attempted by humanity.? Cities in Asia have populations and economies the size of nation states, Kuroda said in a speech at the conference. ?For most major cities in Asia, growth rates are too rapid for their infrastructure to keep up. Each year, there is a $30 billion shortfall in urban infrastructure investments, leading to greater deterioration of existing infrastructure and worsening urban environments.? Kuroda cited a new report published by ADB, Managing Asian Cities, which outlines how the region?s cities can meet the enormous challenges they face. It says that the technology, money and skills necessary are available, but the current institutional structures needed for coordination, financing and capacity development are inadequate.

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