Description/achievement of initiative
Over the coming decade we will build on our long history of supporting transport, and continue to play a leading role in providing financial support for transport in developing countries. These investments will help to develop more sustainable transport: transport that is accessible, affordable, efficient, financially sustainable, environment friendly, and safe.
The financial support provided by our organizations will help develop and implement sound policies for sustainable transport, build capacity of institutions, finance projects and disseminate best practices.
We will achieve our commitment in cooperation with recipient countries, development partners, donor countries and civil society.
We will work with other development partners and civil society organizations to leverage each others' strengths, and through multi-stakeholder partnerships including the Partnership on Sustainable Low Carbon Transport (SLoCaT).
We expect that particular aspects of the sustainable transport agenda - such as improving access and mobility for the poor, reducing transport-related GHG emissions, and improving road safety - will justify the establishing of special financing facilities by donor countries and, potentially, sovereign wealth funds and the private sector. Based on our specific comparative advantages and mandates within our respective countries of operations, our institutions stand ready to assist in the creation and administering of such special facilities.
To monitor our progress towards meeting our commitment, we will introduce annual reporting on our sustainable transport related lending and to developing common arrangements for this purpose. Together with 66 agencies that form the Partnership on Sustainable, Low Carbon Transport (SLoCaT), we have initiated work on definitions, setting targets and choosing indicators for sustainable transport/mobility and assistance provided to support sustainable transport/mobility, with a view to finalizing these within 2012.
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, World Bank