Thimphu City, the capital of the Kingdom of Bhutan, is growing fast and faces severe congestion. To address the challenges, the government developed a ‘Bhutan Transport 2040 Integrated Strategic Vision, which includes improving parking services in order to alleviate traffic congestion and facilitate mass urban transportation. As a result,Thimphu Thromde (Thimphu City Municipality), partnered with IFC to develop multi-level off-street parking facilities. The PPP will create an additional inventory of
at least 550 parking spaces, mobilize about $8 million of private sector investment, and generate annual revenues of US$230,000.