OPEC Fund Quarterly - 2022 Q3

SPECIAL FEATURE

INNOVATION WILL SHAPE FUTURE CITIES

Medellín's Green Corridors: In Colombia, the country’s second biggest city, Medellín, has created a network of 30 shaded routes across the city known as “green corridors” to fight heatwaves. Thousands of native trees, palms, bamboo and tropical plants have been planted around sidewalks, parks and busy traffic routes, providing shaded places for people to travel and gather.

Saudi Arabia’s The Line: Saudi Arabia recently unveiled plans for “The Line”, a linear city part of the futuristic NEOM project, which is a proposed one-building city near the Red Sea, that will stretch for 170 km and consists of tall mirrored skyscrapers. Its residents will use a high-speed train that travels between the two ends of the city in 20 minutes, and within 5 minutes they will have access to all city facilities and services.

China’s trackless trams: With advances in battery and charging technologies, trackless trams operate without overhead wires and get a booster charge at dedicated stations while passengers board. The technology has been operational in China since 2018, first in Zhuzhou, before expanding to Yibin and Harbin, with planning and construction of new systems underway in five other cities. There is strong interest globally in this technology, with proposals for routes in Malaysia, Israel, Zimbabwe, Australia and elsewhere.

Amsterdam’s smart rooftops: Amsterdam launched the RESILIO project in 2018 with financial support from the EU’s Urban Innovative Actions initiative, which focuses on repurposing the rooftops of climate vulnerable neighborhoods in the city. The project will install 10,000 m 2 of innovative smart blue-green roofs with enhanced water retention technology, including 8,000 m 2 installed on social housing rooftops. These roofs will increase the rainwater resilience of the city and reduce the urban heat effect and energy consumption at the building level.

THE OPEC FUND AND KOSOVO

PHOTO: OPES Zagreb/ Shutterstock.com

The OPEC Fund recently extended a US$40 million loan to Kosovo to support the Public Finances and Economic Growth Program. This comprehensive plan will improve fiscal transparency, promote private sector development and enable environmental reforms in the energy and waste management sectors. It was developed with the World Bank, which is also providing €50.6 million (US$56.4 million equivalent) for its implementation.

35

Powered by