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

Green Car Congress

Global CO 2 emissions from the transport sector are projected to increase nearly 50% by 2030 unless significant changes are adopted. Yet despite the importance of the transport sector, which also directly contributes 5-10% of GDP in most countries, it has been largely neglected in the global sustainable development agenda. The joint MDB investment is intended to help develop and implement more environmentally-friendly, accessible, affordable, and safe transport solutions.