World Cities Day

Cities everywhere are engines of economic growth and job creation.  Development and urbanization go hand in hand – but rapid population growth can strain existing infrastructure, and make cities more vulnerable to the changing weather patterns.

On World Cities Day (and every day), addressing these issues and supporting cities in emerging markets is more critical than ever. At IFC, we are committed to helping growing cities in emerging markets develop public infrastructure, promote resilience, and foster inclusive economic growth to create opportunity for all.

IFC develops long-term partnerships with city mayors, subnational governments and their utilities. We mobilize commercial financing for sustainable urban infrastructure projects, connect cities with capital markets, and help diversify their sources for financing. We provide integrated financing and advisory solutions through tailored platforms like IFC Cities Initiative, Utilities for Climate (U4C), Scaling Rewater, and Circularity Plus. We also leverage World Bank Group expertise and connect clients to a global knowledge network to address urban infrastructure challenges.

Last year, IFC’s subnational sector investments (including private water and waste) reached a record high of $1.7 billion, four times the volume in FY23. For more than two decades, IFC has invested $5.6 billion to help growing cities in more than 20 countries improve water, transport, and other essential infrastructure.