OREANDA-NEWS. EIB President Werner Hoyer spoke at the “Urbantec Brasil 2015 – Smart Solutions for Better Cities” conference in Rio de Janeiro of the importance of sharing new ideas, fostering collaboration between the private and public sector and exploring financing approaches to support the move towards clean, attractive and innovative cities.

At the conference President Hoyer urged participants to work together to make cities smarter by investing in sustainable technologies and infrastructure. “I believe that the Smart City concept is all about learning how to combine scarce urban resources in the most efficient way”, said President Hoyer.

President Hoyer also underscored the importance the EIB places on urban development. ‘’For the EIB transforming cities and making them smarter and more sustainable are important goals.” To this end, over the last five years the EU Bank has provided financing of almost EUR 56 billion to a large number of cities worldwide. The Bank also extends its advisory services and technical assistance to the public and private sectors help bring the idea of the Smart City to life.

By 2050 it is estimated that 75% of the world’s population will live in urban areas. The ‘’UrbanTec Brasil 2015 – Smart Solutions for Better Cities” is an international conference which considers the best planning strategies, management and funding models for smart, sustainable urban development around the world.