World Bank ready to support private investment in urban infrastructure

Attracting private capital to municipal infrastructure is an urgent necessity.

Report informs that Valérie Levkov, World Bank Vice President for Infrastructure, said this during the panel discussion "Financeable Municipalities, Liveable Cities: How can cities attract long-term financing at the required scale?" held as part of the 13th session of the World Urban Forum (WUF13) in Baku.

"Investment in urban infrastructure development remains one of the key challenges of our time. Attracting private investment is no longer a matter of choice if we seek systematic urban development. At the same time, the volume of private capital directed to municipal infrastructure in developing countries remains extremely small and persistently low.

For example, among the 100 largest cities in the developing world, only 35 had issued municipal bonds by 2023. It is in this area that the World Bank Group, using its full range of available instruments, plans to provide support," Levkov emphasized.