IPA: /ˈmʌltiˌjɪr/
KK: /mʌltiˈjɪr/
Having a duration that lasts for several years.
The project is a multiyear initiative aimed at improving local infrastructure.
Multiyear → It is formed from "multi-" (meaning many) and "year" (from Old English "geāre", meaning a period of twelve months). The word "multiyear" means spanning or occurring over many years.
Think of 'many' ('multi-') years — that's why multiyear refers to something that lasts for several years.