Ukraine modernizing City of Kyiv Public Transport with help from IFC and World Bank
Photo Credit To ANGDAL

Ukraine modernizing City of Kyiv Public Transport with help from IFC and World Bank

Ukraine modernizing City of Kyiv Public Transport with help from IFC and World Bank

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.

“It is very important for us to create an optimal transport model that will help improve connectivity between different parts of the capital, so we are delighted to cooperate and use the global experience of our partners,” said Kyiv Mayor Vitaly Klitchko who signed the agreements.

The team of experts will undertake technical, financial, and economic assessments of technological options and propose new solutions to optimize access, costs, and opportunities for Kyiv’s development. The team will also propose feasible private sector participation options, accompanied by the necessary policy, regulatory and institutional measures, to catalyse investments in Kyiv’s transport sector.

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. The World Bank took stock of Kyiv’s urban transport system in 2016 and published a “Sustainable Urban Transport for Kyiv” report that examined strengths and weaknesses, and proposed strategies for optimization that specifically identified needs for enhancing connections to Troyeshina.

Kyiv is the third city IFC is working with in 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.

In Ukraine IFC is also working with Mariupol and Lviv.

The IFC is a sister organization of the World Bank and member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work with more than 2,000 businesses worldwide, using our capital, expertise, and influence to create markets and opportunities in the toughest areas of the world. In fiscal year 2018, we delivered more than $23 billion in long-term financing for developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity.

Post source : World Bank Group

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Anthony has worked in the construction industry for many years and looks forward to bringing you news and stories on the highways industry from all over the world.

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