During the UN “Rio+20” conference of June 2012, 8 development banks (Multilateral Development Banks -MDBs) launched the Commitment to Sustainable Transport estimating they will supply credits and grants worth USD 175 Billion to sustainable transport projects from developing countries.
According to the first progress report (2012-2013) of the Working Group for the 8 multilateral development banks (MDB), they are willing to grant over USD 175 Billion for the next decade (in credits and grants) for the sustainable transport segment of developing countries. Among others, the report includes the amounts granted for this segment (USD 20 Billion in 2012), the elaboration of measures for changing the transport sector by consolidating capacity, know-how and good practice exchange and political dialogue. Also, the banks have completed the development of a joint environment for monitoring and reporting on the transport projects which have been tested by several banks. The transport sector directly contributes by 5-10% of the GDP in most countries, while indirectly allowing other sectors to contribute to economic and social development. Through the support granted to extending economic opportunities and services and providing mobility access, transport contribute to an inclusion-favourable increase, next to reducing pollution, congestion and accidents.
These aspects have determined the 8 banks to financially support the development of “sustainable, accessible, efficient, financial sustainable, environmentally friendly and safe transport”, states the first joint report of the financial institutions.
In 2012, the institutions approved the financing of transport projects worth over USD 20 Billion and their commitment amounts to USD 175 Billion for the next decade and it involves all transport sectors.
By analysing investments, ADB (within STAR) has allocated 63% of financing to “moderate sustainable or more sustainable” transport projects, 29% have been consi-dered “marginally sustainable” and only 8% “non-sustainable”. The strongest aspects of all studied projects included economic, social and environmental sustainability.
Also, EIB (within Results Measurement) analysed 30% of the transport projects in 2012 (outside Europe) as being “quality excellent”, the assessment relying on different indicators including environment, social segment, carbon footprint, energy efficiency. In 2012, EIB investments outside the EU (for the transport segment) amounted to USD 2 Billion, 63% being distributed to public transport and investments in EU developing countries. The total volume was of USD 5.4 Billion and the share of public transport amounted to 45%.
Also in 2012, EBRD signed 31 transactions for the transport segment worth USD 2 Billion and 56% of investments in all transport modes were directed to railway, maritime and public transport.
For 2014, the institutions planned to deve-lop the monitoring and reporting framework and to carry out an analysis of transport operations. Also, for 2015 banks will monitor all new projects (financing through common framework) and until 2017, the Rio+20 Commitment will include an assessment of the completed sustainable projects.
Share on:
