Today, 54 percent of all people live in urban areas. This trend is expected to continue, and by 2045, 2 billion more people are expected to be living in cities increasing the urban population to 6 billion. Cities also consume close to two-thirds of the world’s energy and account for more than 70 percent of global greenhouse gas emissions. As cities develop, their exposure to climate and disaster risk also increases.
With more than 80 percent of global GDP generated in cities, the speed and scale of urbanization brings other challenges, including meeting accelerated demand for affordable housing, well-connected transport systems and other infrastructure, basic services, and jobs.
IFC works with governments and the private sector to build inclusive, safe, resilient, and sustainable cities that “work,” shape the future of their development, and create opportunities for all.
INDIA: BHUBANESWAR STREET LIGHTING
The city’s municipal authority asked for IFC’s assistance to design and structure the transaction, and manage a public-private partnership bid process to identify a qualified private sector partner to upgrade and manage the street lighting system.
INDIA: GUJARAT SOLAR
Gujarat province in India has a long-term goal of making its capital, Gandhinagar, a solar-powered city. With IFC’s help, an innovative 5 MW solar rooftop PPP project added power generating capacity and demonstrated the technical and economic feasibility of rooftop-based solar power.
BHUTAN: THIMPHU PARKING
Bhutan’s capital Thimphu is growing fast. To address the challenges of future growth, the Government of Bhutan worked with IFC to improve parking services to alleviate traffic congestion and facilitate mass urban transportation.
MANILA LRT-1 CAVITE EXTENSION
Manila’s Light Rail Transit Line 1 carries about half a million passengers daily. To improve the 30-year old system, IFC helped the government with the design, financing, construction, and operation and maintenance of a 12-kilometer extension to the southern district of Cavite.