Resilience Dialogue | The Future of Resilience: Banking on Cities

Up to $5 trillion a year – that’s the estimated gap between the resilient financing needs of cities and the funding that’s available. In the latest Resilience Dialogue on Friday, a high-level panel of experts, officials and investors offered their insights into how cities can mobilize private financing to close that gap.

Moderated by international journalist Femi Oke, the panel featured... view more


Join World Bank CEO Kristalina Georgieva to hear about the importance of developing resilient cities which must be able to sustain not only the pressure of climate change, but overcrowding, violence, and congestion as more and more of the worlds population move to urban areas.


Urgency and opportunity: a keynote address from Patricia Espinosa exploring how cities can combat climate change through resilience.


Join a panel conversation to learn from leading investors and urban policymakers and hear their strategies for creating resilient cities.


Hear from panelist exploring topics including improving resilience in second tier cities, what investors look for before providing funding for resilient urban development from both the public and private sector perspectives, and limitations cities face when looking for financing.


Join panelists as they discuss how to make resilience profitable, what urban authorities are doing currently to access needed financing, and how to make resilient infrastructure a more attractive investment. Secondly join a Q&A session with audience memebrs.


Join panelists for a second portion of Q&A and session wrap up.

About the Presenters

Kristalina Georgieva

CEO, World Bank

Kristalina Georgieva assumed her current position as the Chief Executive Officer for the World Bank on January 2, 2017.

As the CEO for the International Bank for Reconstruction and Development and the International Development Association, the World Bank’s lending arms for middle-income and poor countries, Georgieva will build support across the international community to help mobilize resources and develop more effective solutions for the poor at the scale required.

Previously, Georgieva, a Bulgarian national, helped shape the agenda of the European Union since 2010, first as Commissioner for International Cooperation, Humanitarian Aid and Crisis Response, where she managed one of the world's largest humanitarian aid budget and established herself as a global champion for resilience.

As the European Commission Vice President for Budget and Human Resources, Georgieva was in charge of the European Union's €161 billion (US $175bn) budget and 33,000 staff across its institutions around the world. She tripled funding available to the refugee crisis in Europe and drove rapid progress towards achieving a target of 40 percent women in management by 2019 in order to improve the Commission's gender balance.

Georgieva is widely respected for her efforts to mobilize the international community to find innovative solutions to today's complex challenges. As the co-chair of the United Nations Secretary-General's High-Level Panel on Humanitarian Financing, she secured the adoption of a much more effective system to meet the needs of record numbers of vulnerable people.

Before joining the European Commission, Georgieva held multiple positions at the World Bank. In her most recent role as the Vice President and Corporate Secretary (2008-2010), she was the interlocutor between the World Bank Group’s senior management, its Board of Directors and its shareholder countries. In the wake of the 2008 international financial crisis, she played a key role in the World Bank's governance reform and accompanying capital increase.

From 2007 to 2008, Georgieva was Director for Sustainable Development in charge of policy and lending operations in infrastructure, urban development, agriculture, environment and social development, including support to fragile and conflict-affected countries. In this role she oversaw around 60% of lending operations of the World Bank Group.

Prior to that, in 2004, Georgieva was made World Bank Director for the Russian Federation, based in Moscow. Then she became Director in charge of the World Bank environmental strategy, policies and lending. Following that assignment, she became Director for Environment and Social Development for the East Asia and Pacific Region. Georgieva started working at the World Bank in 1993 as an Environmental Economist. Deeply knowledgeable in international development and finance, Georgieva established a well-deserved reputation during her time at the Bank for her ability to build broad consensus and turn strategies into practice. She has more than 100 publications on environmental and economic policy topics, including a textbook on microeconomics. Kristalina Georgieva was born in Sofia, Bulgaria, in 1953. She holds a Ph.D in Economic Science and a M.A. in Political Economy and Sociology from the University of National and World Economy, Sofia, where she was an Associate Professor between 1977 and 1991.

Patricia Espinosa

Executive Secretary, UNFCCC

Patricia Espinosa took office on 18 July 2016. Ambassador of Mexico to Germany since 2012 and from 2001 to 2002, Ms. Espinosa was Minister of Foreign Affairs of Mexico from 2006 to 2012, bringing more than 30 years of experience at highest levels in international relations, specialized in climate change, global governance, sustainable development, gender equality and protection of human rights.

As Mexico's representative on multilateral bodies and international organizations in Vienna, Geneva and New York, Ms. Espinosa has been engaged as leader in the global challenge to address climate change and its consequences, notably as Chair of the 16th Conference of the Parties to the UNFCCC leading to the adoption of the Cancun Agreements. Named by the UN Secretary-General to the High-Level Panel of Eminent Persons on the Post 2015 Development Agenda, she is a tireless supporter of multilateralism as a way to improve conditions for development in all regions of the world, understanding the inextricable link between the aims of the Paris Climate Agreement and the Sustainable Development Goals.

Elected Chair of the Third Committee of the UN General Assembly (1996) she played a key role in the process leading to the adoption of the Beijing Platform for Action at the 4th World Conference on Women. Previous Ambassador of Mexico to Austria, Slovakia, Slovenia and UN Organisations in Vienna (2002-2006), she was Chief of Staff to the Undersecretary of Foreign Affairs, Ministry of Foreign Affairs (1989-1991) and responsible for economic issues at the Permanent Mission of Mexico to the UN in Geneva (1982-1988).

Born in 1958, she has postgraduate studies in International Law from the Institut Universitaire de Hautes Etudes Internationales in Geneva and is holder of a Degree in International Relations from El Colegio de Mexico. Fluent in English and German, she is confident in French with Spanish mother tongue.

Elizabeth Yee

Vice President of City Solutions, 100 Resilient Cities

Elizabeth (Liz) Yee is the Vice President of City Solutions, and is also responsible for overseeing the Global Delivery, Operations and Research functions within the City Solutions Team. Prior to joining 100 Resilient Cities, Liz spent 16 years as a public finance banker working with U.S. cities, municipal and state agencies and 501(c)3s to develop and execute financing strategies to fund their infrastructure needs. Her transaction experience includes the financing of roads, water and sewer, solid waste, not-for-profit hospitals, 501c3s, and the development of pension financing solutions. Most recently, she co-led the Public Power and Utilities Team at Barclays where she and her team won the 2010 Bond Buyer Deal of the Year and Far West Deal of the Year for their innovation in financing the 200 MW Milford Wind Corridor Project for the Southern California Public Power Authority and its members – Los Angeles Department of Water & Power, Burbank Water & Power and Pasadena Water & Power. Liz was also jointly responsible for leading the pension and post-employment benefits practice at Barclays and Lehman Brothers.

Liz received a Bachelor's of Arts in International Relations and German from the University of Pennsylvania. She is a board member of the New York Foundation for the Arts.

Jessica Shannon

Partner, PricewaterhouseCoopers

Jessica has expertise in managing risk management, anti-corruption, and capacity building initiatives. Starting her career as a Peace Corps volunteer in Guyana, she has since dedicated her time to working with clients across both public and private sectors in developing markets. Having lived and worked in the Caribbean, Latin America, Asia, Sub-Saharan Africa, and Europe, she has a demonstrated track record of success in supporting her clients navigate complex challenges such as establishing anti-corruption commissions, building governance and internal controls structures, and managing funds deployment in humanitarian crises. Currently, Jessica serves as PwC's Global Relationship Partner for the World Bank Group. In this capacity, she oversees teams across more than 40 countries who are supporting governments to implement WBG financed initiatives ranging from public financial management to infrastructure and public-private partnerships. She also serves as the firm's Global Crisis Center humanitarian lead, having extensive experience in crisis response, which includes serving on the private sector advisory board for UN Office for the Coordination of Humanitarian Affairs.

Jennifer Musisi

Executive Director, Kampala Capital City Authority

Jennifer Semakula-Musisi is a lawyer, advocate of the High Court of Uganda and seasoned administrator with a strong legal, administrative and leadership background. She trained at Makerere University, Kampala, Uganda as well as numerous other institutions including The George Washington University, Harvard Business School and Harvard Law School.

Jennifer earlier worked for Makerere University as a Legal Adviser and was then appointed Commissioner Legal Services, and subsequently Commissioner Legal Services and Board Affairs in Uganda Revenue Authority. Jennifer has strong leadership and management skills and a vast experience in the public and private sector. Jennifer was at the forefront of the Institutional Reforms and Restructuring Programme at URA that have made it a benchmark National Revenue Administration in Africa and beyond. She played a key role in identifying personnel and building their leadership capacity. Many of these have now taken up key leadership positions in Uganda and beyond.

In URA, Jennifer was involved in Policy formulation, legislating amendments and policy implementation at the Executive and Board levels as well as Financial Planning and Management. Her role as Commissioner Legal Services and Board Affairs involved working closely with the Commissioner General and the Senior Management Team, the Board of Directors and various stakeholders including Government Ministries, Tax Appeals Tribunal and personnel at the Uganda Judicial System.

Jennifer also worked with senior managers from the various countries forming the East African Community. This exposed her to the cross-cultural leadership dynamics.

Whilst working with Uganda Revenue Authority Jennifer worked to transform and build the URA Legal Firm into a highly successful and professional Department that has successfully defended URA both at national and international levels. She was also involved in enhancing taxpayer compliance and proposing revenue related policies and practices.

In 2011, Jennifer was appointed by H.E. the President of the Republic of Uganda as the first Executive Director of the Kampala Capital City Authority and has been at the head of the transformation of the City Administration from a Local Government to a Corporate Entity under the Central Government.

Vazil Hudák

Vice President, European Investment Bank

Mr Vazil Hudák joined the European Investment Bank as Vice-President at the beginning of October, 2016. He is the first Slovak national to join the EU Bank's Management Committee.

Prior to his appointment, Mr Hudák was active as lead Slovak negotiator for the EU Budget. In the period from June 2015 to March 2016 Mr Hudák was Slovakia's Minister for the Economy. Between 2012 and 2015, he was State Secretary at the Ministry of Finance. He also has extensive experience of working in the private sector as Vice-President of Citigroup (2006-2010) and Executive Director of JPMorgan Chase Bank in London (2010-2011).

“The EIB is a European success story. It fosters investment in viable projects, puts money and people to work, and helps make Europe more competitive worldwide. It is now called to tackle the momentous difficulties that face Europe as a whole, and it is demonstrating that it can remain relevant and rise to the challenge. I am thrilled to be joining the EU's Bank at this delicate time and look forward to putting my experience at the service of its continuing success", said Mr Hudák, EIB Vice-President.

Mr Hudák has been appointed by the EIB’s Board of Governors on the basis of a proposal from the Minister of Finance of Slovakia with the agreement of a constituency of EIB shareholders composed of the Czech Republic, Bulgaria, Cyprus, Croatia, Hungary, Malta, Poland, Slovakia and Slovenia.

The European Investment Bank, owned by the 28 European Union Member States, is the world’s largest multilateral public bank. The EIB Management Committee is the Bank’s permanent collegiate executive body consisting of nine members. Under the authority of the President and the supervision of the Board of Directors, it oversees the day-to-day running of the EIB, prepares decisions for EIB Board of Directors and ensures that these are implemented.

Femi Oke

International Journalist

Femi Oke is an international journalist, writer and moderator. Since the 1980s, she has worked for BBC television and radio, Sky TV, all U.K. terrestrial television networks, CNN and U.S. public radio. Oke’s reporting has been recognized by the Economic Community of West African States (ECOWAS), the African Communications Agency and InterAction. You can connect with her anytime via Twitter @FemiOke.