ENP Newswire - 06 February 2014 Release date- 05022014 - The first Progress Report (2012-2013) of the MDB Working Group on Sustainable Transport shows they are on track for providing more than $175 billion of loans and grants for sustainable transport in developing countries over the next decade. In June 2012 , eight Multilateral Development Banks (MDBs) launched a Commitment to Sustainable Transport noting that they expected to provide more than $175 billion of loans and grants for sustainable transport in developing countries over the following decade. This first Progress Report (2012-2013) of the MDB Working Group on Sustainable Transport (2MB - PDF)shows that they are on track to meeting their pledge. This is the first time that the eight MDBs are reporting collectively on their work in the transport sector. Among other things, key messages in report include the following: In terms of volume, the eight MDBs approved collectively more than $20 billion in financing in 2012 for transport; Beyond financing, the MDBs are working to leverage change in the transport sector through capacity building, knowledge sharing and policy dialogue; and The MDBs have completed the development of a common monitoring and reporting framework for transport projects, and this has been pilot-tested by several of the MDBs. Based on the adopted framework, each of the MDBs has initiated work to assess the sustainability of their transport operations The June 2012 joint statement 'Commitment to Sustainable Transport ' was issued at the Rio+20 United Nations Conference on Sustainable Development by the following institutions: 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 ; and World Bank . The eight MDBs are committed to reporting annually on their progress toward this commitment.
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