-International meeting launches the Global Solutions Nexus (GSN) to respond to urban challenges and invest in urban transformation
TORONTO, Oct. 27, 2023 /PRNewswire/ — During the 4th Urban Economy Forum in 2022, the need to establish a global platform for cities to access financial opportunities to address old and new pressing challenges was evident, while while the necessary institutional and social conditions are created. A year later, this dream became a reality during the 5th Urban Economy Forum (UEF5) titled “For Climate Change, Urban Finance”, which launched the Global Solutions Nexus (GSN).
The GSN is creating a strong global network to establish a connection between local actions and financing for impactful urban transformations. The goal is to bring together people, ideas, resources, institutions and systems to co-create these transformative solutions through creative and collaborative mechanisms for sustainable processes and results.
The GSN will help cities and development partners identify, select and prepare innovative solutions that have the potential to solve local problems, maximize opportunities and promote the comparative advantages of cities and regions. These solutions will be possible to develop thanks to the meeting, exchange and dialogue of technicians, academics, the private sector and financial institutions with city leaders.
This initiative has three central focuses: Innovation Collaboration Sustainability. By strengthening connections in these areas, more general thinking about the city can be encouraged; one that values and mobilizes local resources and assets while leveraging national and international investments. The projects that result from GSN are typically neighborhood interventions that have the capacity to promote a city vision that connects the prosperity and well-being of these localities with a broader vision of urban areas.
Innovation is a way to connect different aspects of the project and financial mechanisms that do not explicitly interact and therefore reduce the possibilities of greater impacts and results.
Collaboration means bringing together various actors and development partners to identify and co-create urban solutions that will be connected with innovative financial tools and strategies.
Sustainability can be ensured by implementing appropriate processes to produce the necessary results that are transformative in nature and based on agreed principles and standards.
The GSN was inaugurated in the presence of two ambassadors: Khalid bin Rashid Al-Mansouri, Ambassador of Qatar to Canada; Carlos Joaquín, Ambassador of Mexico to Canada. Both expressed interest in greater collaboration with the NSG and their countries.
This ambitious initiative requires the participation of the entire society, as indicated by Reza Pourvaziry, president of the Urban Economy Forum. “GSN and its affiliates will establish a strong network of partners operating around the world to collaborate on specific pilot projects and new financial tools under a clear business plan,” Pourvaziry said.
Eduardo Ortiz Jasso, director of UEF Latin America and the Caribbean, presented this new initiative at UEF5. “GSN will bring together key stakeholders to boost financial capabilities and investments to create the conditions to finance city transformations,” said Jasso.
Yusuf Amdani, president of GK Global, described the platform as “a unique platform that will enable cities and nations to assess, plan, finance and have a lasting positive impact on their communities.”
The final product will be the design of a cohesive platform focused on the creation of specific urban projects with an emphasis on financing, with the intention of overcoming urban challenges and having a positive economic, environmental and social impact.
Global Solutions Nexus is not just an initiative; It is a call to action. We invite people, companies and organizations that share our vision to be part of this transformative journey. Our collaboration will help shape the future of cities, drive sustainable development and create lasting positive impacts. We invite everyone to join this mission and be part of financing today for the cities of tomorrow. Visit our website to explore investment opportunities and learn more about how you can participate at https://www.globalsolutionsnexus.org/.
Together we can make a significant difference to the urban landscape and beyond.
For media inquiries: Alex Venuto, Urban Economy Forum, Alex.venuto@ueforum.org
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