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8 development banks commit to provide more than $175B to scale up support for sustainable transport

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The Asian Development Bank (ADB) and seven other multilateral development banks (MDBs) are committing to provide more than $175 billion of loans and grants for transport in developing countries over the next decade. The ADB made the announcement on behalf of the MDBs at the Rio + 20 event in Rio de Janeiro.

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Report Finds That Urgent Changes in Transport Financing Required to Enable More Sustainable Transportation Globally

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trillion is spent annually on transport globally, mostly in ways that exacerbate rather than solve the problems associated with traffic growth, including congestion, health-harming air pollution, accidents, energy insecurity, and climate change. The report, A Paradigm Shift Towards Sustainable Low Carbon Transport , finds that more than $1.5