From Detroit to Lahore, most cities around the world are facing financing challenges. Bankruptcy, budget deficits, unmaintained infrastructure, declining quality of services and increasing urban poverty are unfortunately too common headlines. At the same time, the world is becoming more complex and municipal officials are not only dealing with the day to day business which comes with running a city but, they also have to increasingly address issues of social inclusion, local economic development, job creation, crime and violence, climate change, floods, natural and man-made disasters as well as an increasing number of urban dwellers. Against this backdrop, there is both a sense of urgency and a huge opportunity for change.