Speech by ADB Vice-President Bindu N. Lohani on 22 June 2012 at the Riocentro Convention Center, Rio de Janeiro, Brazil.
Mr. Secretary General, Excellencies, Ladies and Gentlemen
The institutions making this voluntary commitment
I am privileged to present this Voluntary Commitment on Sustainable Transport on behalf of eight Multilateral Development Banks.
This is also supported by 16 other voluntary commitments from members of the Partnership for Sustainable Low Carbon Transport
Our commitment to sustainable transport
Over the next decade we expect to provide 175 billion dollars for transport in developing countries. This will develop more sustainable transport systems.
We will also establish common definitions, indicators and targets for monitoring progress at country, regional and global level. We will report annually on our sustainable transport lending.
Types of investments to be financed
We expect to finance all forms of sustainable transport – including public transport; bicycle and walking infrastructure; energy-efficient vehicles and fuels; railways and inland waterways; and road safety.
Let me give one example. Asian Development Bank is currently supporting the development of bus rapid transit systems in several cities of Bangladesh, Mongolia, and the People's Republic of China. When completed, these will carry from 100,000 to a million passengers daily, providing people with better access to centers of employment and services. By providing an alternative to motor vehicle usage, they will also reduce congestion, road accidents and air pollution.
Expected impacts of our support
These sustainable transport improvements will benefit billions of people, especially the poor, and support environmental sustainability and reduce greenhouse gas emissions.
If you want to know more about this, just google “$175 billion.”