Better environmental protection underpins achievement of all the other global development goals so it is key to urbanisation plans. This means considering the needs of not only the wealthy, but also those of the urban poor and other vulnerable groups who will be most affected by environmental degradation.
Social inclusion is core to the primary purpose of Prosperity Fund. Programmes acknowledge the importance of the existing social institutions and use these to feed into capacity building programmes for local government agencies.
The strong focus on stakeholder engagement in all Prosperity Fund programmes promotes interaction with all those involved in the decision-making process. However, programmes need to incorporate inputs from both high-level decision makers and local social institutions to help manage environmental constraints. Business environment and financial services programmes under the Prosperity Fund can support the creation of investment groups and microfinance systems which improve social capital accumulation for local communities. They do this by using innovative technologies to deliver financial services through FinTech programmes.
Integrated policies to improve the lives of both urban and rural dwellers are needed, strengthening the linkages between urban and rural areas and building on their existing economic, social and environmental ties United Nations, 2018
By improving the social capital of communities in middle-income countries, the Prosperity Fund can help to insure against future environmental risks. In addition, a stronger economy in a middle-income country can raise the quality of life, economy and social standards in neighbouring low-income countries.
The third and final part of the Prosperity Fund series will be focusing on innovation and sustainable urbanisation.
On 18-19 June, IMC Worldwide will be at the European Development Days (EDDs) in Brussels to share how we foster innovation to improve lives in low-income countries and generate fresh ideas with the development community.
'Tomorrow’s cities will be where the physical world, sharing economy and digital ecosystems intersect for the majority of the world’s people so we need to take a connected approach', says Gavin English, Managing Director.