The eight Multilateral Development Banks (MDB) which in 2012 committed themselves to supporting sustainable transport, are reporting progress. In 2013 alone, the African Development Bank, Asian Development Bank, CAF-Development Bank of Latin America, European Bank for Reconstruction and Development, European Investment Bank, Inter-American Development Bank, Islamic Development Bank and World Bank Group approved more than $25 billion for transport projects, says a joint report published today.
Combined with the $20 billion approved in the first year of the MDB’s Rio+20 Commitments the institutions are on target to meet their goal of $175 billion in support for more sustainable transport in developing countries over the ten-year commitment period (2012-2022).
This $25 billion in funding represented more than 200 approvals, including:115 for roads, 39 for urban transport, 24 for rail, 13 for airports and 5 for inland waterway and maritime projects. In addition, 91 technical assistance projects were approved. These efforts seek to support policy development, research, and capacity building efforts.
The MDBs declaration at the UN Conference on Sustainable Development in Rio in June 2012 recognises the critical role that transport plays in sustainable development and makes clear their commitment to increase support for more sustainable transport in the countries where they invest. Sustainable transport is defined as transport that is accessible, affordable, efficient, financially sustainable, environmentally friendly and safe.
2015 marks several international milestones, which are directly relevant to sustainable transport. These include the completion of the Post-2015 Development Agenda, the 21st Conference of the Parties to the United Nations Framework Convention on Climate Change (UNFCCC), and the Second Global Ministerial Conference on Road Safety to mark the mid-year of the United Nations Decade of Action on Road Safety. The MDBs, in close coordination with the countries where they operate and development partners, will work further in support of these processes.