IFC and World Bank support City of Kyiv in modernizing high-speed public transport

IFC, a member of the World Bank Group, and the Kyiv City State Administration have agreed to work together to support the sustainable development of its mass rapid transit infrastructure and ongoing transport sector reforms and catalyze private investment in transport.

IFC will work together with experts across the World Bank Group to provide advisory services in preparation for the Troyeshina Rapid Transit project, which will provide much needed high-speed public transportation access to the Troyeshina residential area in Ukraine’s capital city.

Jason Brett Pellmar, IFC’s regional head for Ukraine, Belarus and Moldova, said, “We have the opportunity to improve the quality of life for nearly a fifth of Kyiv’s population by reducing commuting times, improving connectivity, and reducing emissions by decreasing private car use. Our goal is to mobilize commercial financing to meet these objectives as part of a comprehensive strategy for sustainable urban transport.”

The project is part of an ongoing collaboration between Kyiv and the World Bank Group in the transport sector.

Kyiv is the third city IFC is working within Ukraine under its Cities Initiative which helps mayors and municipal leaders around the world address implementation and efficiency challenges related to urban transport, water and waste management, health, education, street lighting, smart city development, energy efficiency and climate resilience with private sector involvement. Over the past decade, IFC has invested more than $8 billion in 250 projects and provided advisory services to support urban development in more than 60 countries.

Original source: IFC
Published on 02 July 2019