Kyiv, Ukraine, October 11, 2017—IFC,
a member of the World Bank Group, and the city of Kyiv signed an agreement
to work together to modernize the city’s public transport, improve waste
management, and boost energy efficiency.
The Memorandum of Understanding aims to improve
urban infrastructure in Ukraine’s largest city of about 3 million people,
drive economic growth, and ensure the quality and sustainability of communal
services. IFC will use tailored strategies and advisory support, identifying
priority projects related to transport, energy and waste management sectors
and supporting a plan to boost the city’s financial management practices.
“We are committed to making Kyiv a better
place to live and work and turning it into a top investment destination
with modern and reliable infrastructure. IFC’s support will help us ensure
we are implementing the best possible solutions for the citizens of Kyiv,
while also serving as an example for other cities in Ukraine,” said Vitaly
Klichko, Kyiv mayor.
This collaboration is part of IFC’s Cities
Initiative, an innovative
approach to problem-solving for cities that creates markets and opens opportunities
for increased investment.
are central to sustainable development and economic growth,” said Elena
Bourganskaia, IFC Global Head for Water and Municipal Infrastructure.
“IFC is using its global expertise to help Kyiv find the right solutions
to fuel its growth and improve the quality of life for its residents, while
also preserving its unique history and vibrant culture.”
IFC’s Cities initiative helps municipalities,
utilities, and companies collaborate on pressing infrastructure needs.
Since it was launched in
2014, IFC has established strategic relationships with 10 cities – Bogota,
Buenos Aires, Belgrade, Izmir, Istanbul, Antalya, Kigali, Cape Town, Durban,
Over the past decade, IFC has
invested more than $10 billion in 300 urban improvement projects and provided
advisory services in more than 60 cities.
IFC, a member of the World Bank Group,
is the largest global development institution focused on the private sector
in emerging markets. Working with more than 2,000 businesses worldwide,
we use our capital, expertise, and influence to create markets and opportunities
in the toughest areas of the world. In FY17, we delivered a record $19.3
billion in long-term financing for developing countries, leveraging the
power of the private sector to help end poverty and boost shared prosperity.
For more information, visit www.ifc.org