SINGAPORE, July 11 (Xinhua) -- Governments across the globe should be early prepared for climate change, which requests huge investment in infrastructure and resources, Singapore Prime Minister Lee Hsien Loong said on Monday.
Lee made the remarks at a dialogue held during the Lee Kuan Yew Prize Award Ceremony and Banquet. He said China- initiated Asian Infrastructure Investment Bank (AIIB) can "provide funding for infrastructure which is badly needed by many countries in Asia."
There are a lot of things countries have to prepare for climate change, Lee noted, adding that issues include extreme weather, drought and floods, all of which need the government to get prepared early. "You invest, you can build the systems, but if you're distracted, they will come upon you."
He said the AIIB, which aims to support infrastructure projects in the Asia-Pacific region, will be able to provide funding badly needed by many countries in Asia.
The Lee Kuan Yew Prize Award Ceremony and Banquet was held as part of the World Cities Summit, co-located with the 7th Singapore International Water Week, and CleanEnviro Summit Singapore that will run until Thursday.
Lee also addressed global problems cities face, including terrorism and political events such as Brexit, saying globalization is a challenge which all countries need to face.
"You have to be open. At the same time you must maintain the sense of identity, cohesion, confidence amongst the domestic population," he stressed, saying that there's no clear answer to issues like Brexit.
During the banquet, Lee also presented the Lee Kuan Yew World City Prize 2016 as well as The Lee Kuan Yew Water Prize 2016.
The Lee Kuan Yew World City Prize 2016 was presented to Medellín, Colombia, to recognise its remarkable transformation from a notoriously violent city to one that is being held up as a model for urban innovation within a span of just two decades.
The Lee Kuan Yew Water Prize 2016 was presented to Professor John Anthony Cherry, a world-renowned hydrogeologist recognised for his contributions and influence in groundwater management, and lifelong dedication to the protection of groundwater resources.
