IFC may allocate $55 mln to Zaporizhia to improve energy efficiency, infrastructure

13:53, 07.12.2020 1 min read

The International Finance Corporation (IFC) may provide Zaporizhia with a $55 million long-term loan to finance a package of initiatives aimed at improving energy efficiency, infrastructure development and transport logistics.

The board of directors plans to consider this project on February 15, 2021, the bank said on its website.

IFC plans to provide Zaporizhia with up to EUR 36.7 million of a loan from its own funds and to organize another EUR 18.3 million through the Managed Co-Lending Portfolio Program (MCPP).

It is assumed that the funds will be used for the installation of an intelligent traffic control system, street lighting and modernization of control centers, the purchase of electric buses, trolleybuses and related infrastructure, (reconstruction of traction equipment, substations, the purchase of road construction and cleaning equipment, as well as the reconstruction of roads and the development of public parks.

In addition, IFC will help develop a Smart City 2.0 strategy for Zaporizhia.