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Moving the Needle on Healthier Environments and Sustainable Development

Rachel Kyte's picture

Over the past few days of the World Bank/IMF spring meetings, it’s been exciting to see just how much interest and real commitment there is among the world’s finance ministers to move toward inclusive green growth and sustainable development.

Several finance ministers at the Rio breakfast with Ban Ki-moon, Bob Zoellick, and Christine Lagarde talked about the need for better national wealth measurements that incorporate natural resources. Some were already implementing new forms of natural capital accounting. Others wanted to know more.

They were absolutely clear about two things: They want better methodology, data, and evidence to help guide them on the path to sustainable development, and they see a clear role for the World Bank as a source of that knowledge.

Getting to Sustainable Development, Inclusively and Efficiently

Rachel Kyte's picture

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Sustainable development is built on the triple bottom line: economic growth, environmental stewardship, and social development - or prosperity, planet, people. Without careful attention to all three, we cannot create a sustainable world.

In the 25 years since sustainable development was coined as a term, there has been progress, but the pathway to sustainable development must now be more inclusive green growth.

Advocating for the Youngest Victims of Road Traffic Injuries

Moira Donahue's picture

Guest blogger Moira Donahue is the director of international operations for Safe Kids Worldwide, a global network of organizations with a mission to prevent unintentional childhood injury, a leading cause of death and disability for children ages 14 and under.

Road Safety: An Issue that Concerns Us All

Tawia Addo-Ashong's picture

Working in transport for development, our focus is often on the physical infrastructure that is needed to improve mobility and provide access to services and markets. Road safety is an issue that obliges us to focus on our clients:  the young and vulnerable users of road networks around the world.

World Bank Group and development partners team up on infrastructure investment

Angie Gentile's picture

Flanked by the finance and development ministers of France and Germany, World Bank Group President Robert B. Zoellick launched two initiatives today that together are expected to mobilize more than $55 billion in financing for infrastructure projects over the next three years.

The multibillion dollar initiatives—the Infrastructure Recovery and Assets (INFRA) platform and Infrastructure Crisis Facility—were created to address the falloff in funding for the construction of roads, water systems, power generation and distribution, and other critical infrastructure.

There is no doubt infrastructure plays a huge role in economic growth and development, Zoellick said.

“In this crisis, we will need more and more to identify creative ways to mobilize additional financing. This facility sends an important market signal,” encouraging the private sector to continue infrastructure investment and development.

April 25, 2009 - Washington DC. World Bank/IMF Spring Meetings 2009. (l-r) Christine Lagarde, Minister of Finance, France; Roger Morier, World Bank; Robert B. Zoellick, World Bank President; Hannfried von Hindenburg, IFC; Heidemarie Wieczorek-Zeul, Development Minister, Germany. Credit: Simone McCourtie, World Bank

France and Germany became the first to sign on to the Infrastructure Crisis Facility with commitments of about $660 million through German development bank KfW and roughly $1.3 billion through French development bank Proparco.

INFRA is designed to help countries offset the negative effects of the financial crisis on their infrastructure services and investment programs, with up to $45 billion available over the next three years. Assistance will be global, but Africa is expected to see a large share of the funding.

The Infrastructure Crisis Facility, administered by IFC, a private sector branch of the Bank Group, is expected to attract more than $10 billion to help bridge the infrastructure financing gap.

At today’s signing, German Development Minister Heidemarie Wieczorek-Zeul appealed to industrialized countries to support the initiative and take into account the situation in developingFrench Finance Minister Christine Lagarde countries. “They’re not responsible for the crisis. We have a special responsibility to be at their side.”

French Finance Minister Christine Lagarde added: This is a time “when we can put our money where our mouth is and commit to deliver…I think the World Bank has done an outstanding job dealing with issues that are difficult. This is a good illustration of how projects should be conducted. They should be focused where they can actually make a difference.”

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On a related note, I caught up earlier today with the Bank’s director for energy, transport and water, Jamal Saghir, who said the Bank’s Board has approved $9 billion in infrastructure projects already this fiscal year. That puts the Bank 47 percent ahead of the amount of infrastructure funding approved this time last year.

Saghir gave a shout-out to staff, who he credited with working hard to speed up project implementation to respond to the crisis.

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