Commitment to Sustainable Development
Over the coming decade, Multilateral Development Banks (MDBs) will 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. At the Rio+20 Coference in June 2012, the MDBs have voluntarily committed to mobilize $175 billion for sustainable transport in the next ten years. 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.
Organizations making the Voluntary Commitment
Update of Progress 2013-2014
During the first year since Rio+20, the MDBs took steps to operationalize the Rio+20 Commitment, including (i) concretizing the working arrangements, (ii) developing a common framework for monitoring and reporting, and (iii) initiating work to monitor the sustainability of transport operations.
At the end of 2013, the MDBs completed a first annual progress report, which included a review of 2012 financing operations. The report showed that the MDBs are generally on track for meeting the Rio+20 Commitment. In terms of volume, the MDBs approved collectively more than $20 billion in financing in 2012. Beyond financing, the MDBs are working to leverage change through capacity building, knowledge sharing and policy dialogue.
While preliminary in nature, the MDBs have completed the development of a common monitoring and reporting framework for transport projects. The MDBs are developing and pilot-testing tools to help in understand the relative strengths and weaknesses of different projects with regards to their sustainability.
Reports and Relevant Documents
Support for the commitment:
“The significant financial commitments for sustainable transport made by multilateral development banks at last years Rio+20 conference can help us to realize those aspirations.”
Ban Ki-Moon, Secretary General United Nations
“These unprecedented commitments have the promise to save hundreds of thousands of lives by cleaning the air and making roads safer; cutting congestion in hundreds of cities; and reducing the contribution of transportation to harmful climate change.”
Joan Clos, Executive Director United Nations Settlement Programme (U.N.-HABITAT)