Gandhinagar: Union Finance Minister Nirmala Sitharaman has stressed the need to augment private-sector partnerships in financing future cities. 

Addressing the Investors' Dialogue, at GIFT City in Gandhinagar yesterday, Ms Sitharaman said innovative financing by the private sector in urban infrastructure is imperative for the creation of sustainable and resilient future cities. She said in view of the rapid urbanization, cumulative climate investment needed for cities is estimated to be 29.4 trillion dollars during 2018-2030.

The Finance Minister said innovative financing strategies such as blended finances, and payments for ecosystem services, can fill the gap the financing and propel

the economic growth of the cities. She also stressed on better policy and regulatory framework to promote public-private partnerships in infrastructure financing.

The Investors' Dialogue was organised as part of the 3rd G20 Finance Ministers' and Central Bank Governors' meeting which will begin in Gandhinagar tomorrow.

Earlier today, Union Finance Minister Nirmala Sitaraman and Finance Minister of Indonesia Mulyani Indrawati announced the launch of the “India - Indonesia Economic and Financial Dialogue” on the sidelines of the meeting in Gandhinagar. The initiative aims to strengthen cooperation between the two nations and foster a shared understanding on global issues. 

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