v city, transformed LONDON Mobility City Greg Clark Tim Moonen Jake Nunley years city, transformed LONDON 1 LONDON Mobility City Greg Clark Tim Moonen Jake Nunley London: Mobility city © European Investment Bank, 2019. All rights reserved. All questions on rights and licensing should be addressed to
[email protected] The findings, interpretations and conclusions are those of the authors and do not necessarily reflect the views of the European Investment Bank. Get our e-newsletter at www.eib.org/sign-up pdf: QH-06-18-218-EN-N ISBN 978-92-861-3895-9 doi:10.2867/631170 eBook: QH-06-18-218-EN-E ISBN 978-92-861-3894-2 doi:10.2867/214300 4 city, transformed LONDON Rail lines, tunnels, a revamped Underground, and bigger, better airports were decisive in London’s transformation into one of the world’s great global centres. Direct project loans from the European Investment Bank worth £7.3 billion between 2006 and 2016 have also been of fundamental importance. Despite the uncertainties of Brexit, London continues to be rated as a leading location in Europe and the world for business, knowledge, and talent. It is routinely benchmarked among the top performing large cities globally in terms of quality of life, infrastructure and accessibility. But 30 years ago, when London had no citywide government, a transport system in crisis, and no successful track record of continuous large-scale upgrades to the urban fabric, this scenario would have seemed highly unlikely. In this essay we examine how London’s unpromising 1980s gave rise to three decades of reinvestment and we explain how the European Investment Bank played an essential catalytic role in successive cycles of London’s evolution from an under-governed de-populating national capital into a diverse global centre benefiting from integrated urban systems management.