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          The Project is to support the City of Ekurhulenis (CoE or the Municipality) FY16/17 capital investment program, through an IFC investment of up to US$50 million (South African Rands equivalent) in CoE's bond issuance of ~US$106 million (~ZAR 1.3 billion).  
       
       
         The proposed investment in CoE will be used to support a portion of CoEs capital expenditures in improving and expanding public infrastructure such as roads and mass transit, water and sanitation, power among other social and environmental infrastructure. These projects are of high priority to CoE in improving the quality of life for its residents, and importantly provides enhanced access to public services and infrastructure to underserved areas. 
       
       
   
         CoEs infrastructure capex will support i) road infrastructure including pavement of up to 67 kilometers of new roads and the maintenance of over 1,300 kilometers of existing roads; ii) electrical infrastructure including the connection of over 6,000 new households in informal settlements; iii) water and sanitation infrastructure including upgrade of existing infrastructure and installation of new water and sewer pipes to expand access to services to   1,200 settlements. The infrastructure will also support the development of a bus system aimed at connecting the various areas that make up the Municipality and encourage motorists to switch to other more climate friendly modes of transport, making it an important tool in battling climate change. i)	Contribution to improved connectivity and productivity: The investments in road and transport infrastructure, is expected to reduce commuting time and traffic congestion, which will contribute to improved efficiency and productivity.

ii)	Improved access to infrastructure services: The investment in electrical, waste management and water and sanitation infrastructure, is expected to improve the quality, reliability, and efficiency of key basic infrastructure services provided by the Municipality. It will also result in the expansion of services to new customers and informal townships reaching the low income segment of the population.

iii)	Contribution to social inclusion: Urban poor and other vulnerable groups tend to live in the townships and informal settlements. Enhanced connectivity with the city centers provide these groups with better access to jobs and may allow the areas where they live to be better incorporated in the municipal's economic activities. It will also benefit this segment of the population through improved access to basic infrastructure services.

iv)	Environmental and social benefits: The Project will result in environmental and social benefits due to reduced air pollution and traffic congestion in the metropolis, by encouraging motorists to use the public transit infrastructure that is being put into place. In addition, the investment in the upgrade of water pipes and electrical infrastructure will result in lower technical losses from the provision of services.

v)	Demonstration effect: IFC's involvement in the Project is expected to encourage a wider spectrum of investors, particularly from the international markets, to provide long term financing to municipalities in South Africa.