World Bank Report on India Key Highlights

The World Bank jointly released a report titled Towards Resilient and Prosperous Cities in India with the Ministry of Housing and Urban Affairs.

Key Highlights of World Bank Report on India

• Burden on Cities : By 2030, Indian cities will account for 70% of all new employment.
  • However, without resilience investments, they risk significant economic losses from climate events like floods and heatwaves.
• Flood-Related Losses: Pluvial flooding, worsened by unplanned urbanisation and concrete surfaces, could cause annual damages of $5 billion by 2030 and up to $30 billion by 2070.
• Rise in Extreme Heat Stress: Between 1983–2016, exposure to dangerous heat stress in 10 major Indian cities rose by 71%.
  • Urban heat island effects further intensify night-time temperatures.
• Huge Burden: Indian cities will require $2.4 trillion by 2050 to build climate-resilient infrastructure and service.
• Autonomy for better response: Cities with greater decision-making powers have shown better resource mobilisation and resilience.

Recommendations for Policy Action

• Autonomy for  ULBs: Implementing aspects of the 74th Constitutional  Amendment can enable local bodies to invest in and manage climate adaptation projects effectively.
• Investment on Resilience: Investment of  $150 Billion in Flood-Resilient Infrastructure for protecting 60% of high-risk cities within 15 years.
• Urban Greening & Cool Roofs: These can prevent 1.3 lakh deaths annually by 2050 due to extreme heat.
• Mobilise Private Capital: Financing roadmaps and municipal capacity-building are crucial to support resilience planning.

About the World Bank

• The World Bank is a global development institution that provides financial and technical support to developing countries for infrastructure, poverty reduction, and sustainable growth.
• Establishment: Established in 1944 during the Bretton Woods Conference in New Hampshire, USA, the World Bank was created to help rebuild economies after World War II.
• Headquarter: Washington, D.C.
• Members: The World Bank has 189 member countries.
• Five Institutions of the World Bank Group
  • International Bank for Reconstruction and Development (IBRD)
  • International Development Association (IDA)
  • International Finance Corporation (IFC)
  • Multilateral Investment Guarantee Agency (MIGA)
  • International Centre for Settlement of Investment Disputes (ICSID)
• Notable World Bank reports:
  • World Development Report
  • Global Economic Prospects
  • Ease of Doing Business Index
  • Business Ready (B-READY) 
  • Sectoral studies on climate adaptation, poverty, and infrastructure.

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