Recovery, Renewal, Resilience

Lessons for Resilience

Consider tools to support and drive local economic recovery
Topic:
Economic
Keywords:
Economic strategy
Content:

A recent event organised by Geneva Cities Hub (GHC) and UN-Habitat examined the measures that cities across the world took to tackle economic and financial impacts of the COVID-19 pandemic. The session discussed lessons learned and how these might inform and accelerate the development of strategies which effectively prepare for and mitigate the effects of future crisis in cities. One core response lesson identified was that “cities which have best managed the crisis are those who have been flexible in the allocation of resources and capacities to support their citizens”. A further key takeaway was the potential for tools developed by international organisations to support and drive city recovery and renewal. The tools discussed include:

  1. The Urban Economic Resilience Performance Diagnostic and Planning Tool which can support cities to:
  • Identify the “strengths and weaknesses of institutional and operating” mechanisms with a focus on economic recovery, renewal, and resilience building
  • Analyse the “structure and functioning” of cities and effectively measure economic performance. This tool can specifically help cities to understand how these factors impact vulnerability to shocks and stressors, and broader local resilience
  • Inform the design and implementation of comprehensive Recovery Strategies and Renewal Initiatives that restore and enhance preparedness, and tackle systemic socio-economic conditions to reduce vulnerabilities
  1. The Municipal Financial Self-Assessment Tool which aims to support cities to:
  • Analyse city financial health and identify strategies that will improve the “mobilization of local resources, financial management, public spending, assets management (public), investment programming and access to external funding”
  • Evaluate local budgets, finance management practices, city savings capacity, investment history and future opportunities, and review financial forecasts
  • Benchmark according to a set of comparable key indicators and ratios
  • Define strategies for a ‘Municipal Finance Improvement Plan’ aiming for “greater accountability, visibility and efficiency in the use of public funds”
  • The local government of Kisela Voda, Macedonia, detailed how this tool supported them to mobilize local resources such as increasing land development fees and selling municipal assets
  1. The City Resilience Profiling Tool, designed to:
  • Assess and understand unique urban systems by engaging local governments, the private sector and civil society stakeholders to build city resilience
  • Support the establishment of strategies that consider five core and interdependent components: “spatial attributes; organisational attributes; physical attributes; functional attributes; and time”
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