Cities drive growth and generate more than 80 percent of global Gross Domestic Product (GDP). Rapid urbanization and population growth are driving the need for urban infrastructure and services, including affordable housing, clean water and sanitation, and transport.
IFC is uniquely positioned to help mayors and municipal leaders meet these demands. IFC develops long-term partnerships through direct engagement with subnational governments and their entities, as well as private-sector solution providers. We mobilize commercial financing for sustainable urban infrastructure projects, connects cities with capital markets, and helps diversify their sources for financing. We leverage World Bank and private sector expertise and offer project structuring and development support for public-private partnerships (PPPs) as well as community outreach and capacity building to facilitate implementation of infrastructure projects. We also help create markets and deliver a vast suite of advisory services to assist with project delivery and build local capacity to strengthen sustainable development impacts.
In the latest fiscal year, 70 percent of the investment volume was in climate finance. IFC has forged strategic partnerships with cities around the world, bringing in the private sector to address pressing urban and climate needs, helping municipal authorities build climate-resilient, sustainable cities.