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A smart city is a city in which information and communications technology are merged with traditional infrastructures, coordinated and integrated using new digital technologies.
The TransMilenio has been an influential example due to its ability in addressing the messed mobility of a typical Global South metropolis and in promoting an intervention that requires less financial resources in comparison to other, traditional infrastructures.
It is therefore becoming an important question to determine the relative cost of these new environments when comparing them with more traditional infrastructures.
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New technology leveraging traditional infrastructure.
The government must invest here just as it invests in our other traditional infrastructure.
This demand is illustrated in traditional infrastructure, where infrastructure bonds are tried and tested instruments (they were, after all, how we financed our Victorian railway network).
Millions in Africa have simply bypassed traditional infrastructure stages such as landlines and branch banking, skipping straight to cellular telephony and mobile money.
Perhaps a more equitable and interesting approach is to ask how traditional infrastructure and traditional roles can be re-purposed – meeting the needs of the on-demand economy in a different way.
It would be, he told NBC, "the largest infrastructure program in roads and bridges and other traditional infrastructure since the building of the federal highway system in the 1950s".
So maybe Paul Evmorfidis's argument has some validity: Greece's traditional infrastructure may not be the ultimate answer to its problems, given the global scale of things, but it may make difficult times less painful.
Meanwhile, the Bank's lending priorities have changed over the past 20 years, with more support for health, governance, women and education, in addition to lending for traditional infrastructure projects.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com