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.
We are uniquely positioned to help mayors and municipal leaders meet these demands. IFC mobilizes commercial financing for priority projects, connects cities with capital markets, and leverages World Bank and private sector expertise to facilitate infrastructure projects.
Through our $8 billion Cities Initiative—which combines investment and advice—we have forged strategic partnerships with cities around the world to address pressing urban needs with private sector participation. The Cities Initiative helps municipal authorities build climate-resilient, sustainable cities.
What makes Izmir 'livable?'
Izmir—Turkey’s third-largest metropolis—has a sustainable (and creative) approach to water-management. The city organically treats 97 percent of its wastewater, and the residual sludge is then used to create a cement base for new tram-line construction.