Financing the Urban Development in Germany

Abstract

This article considers the system of financing of urban development in Germany. Today, the most pressing issue is the study of factors contributing to the sustainable urban development. One such factor is urban development financing. Urbanisation processes which are taking place today have exacerbated the problems of modern cities. Problems arising from urban growth dynamics, such as transport and communications, environmental and other issues, are coming to the fore. The authors of the article consider the main programmes for financing cluster structures in Germany. The authors have established that the cluster policy is a real tool for promoting innovative technologies and is a promising approach for improving regional innovation opportunities.