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

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The joint MDB investment is intended to help develop and implement more environmentally-friendly, accessible, affordable, and safe transport solutions. ADB is already supporting green transportation solutions across Asia, including low-cost electric vehicles in the Philippines, urban metrorail systems in Viet Nam, bus rapid transit systems in Mongolia and Bangladesh, and inland waterway transport in the People’s Republic of China.

ADB draft report says 3B Asians could become affluent by 2050; significant challenges

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Fast-growing economies like the People’s Republic of China (PRC), India, Indonesia, and Viet Nam cannot afford to fall into the middle income trap when seeking to move from resource-driven growth that is dependent on cheap labor and capital to growth based on high productivity and innovation, the report cautions.

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