The African Development Bank AfDB marked the UN Climate Summit in New York, affirming a commitment to $US 175 billion in financing for sustainable transport projects in Africa over the next ten years. Africa has comparably low CO2 emissions from transport: 215 kilograms CO2/per capita in 2008, representing 25 times lower than the world average. However this figure is expected to increase with the rise in Africa’s total oil demand.
Alex Rugamba, AfDB Director, Energy, Environment and Climate Change Department, highlighted the commitment by multi-lateral development banks (MDBs) of US $175 billion in financing over 10 years for sustainable transport in the new MDBs joint statement.
The AfDB places high importance on sustainable transport and services in Africa. The Bank invested more than US $1.7 billion in 2013 in the sector with the intention of increasing focus on developing sound urban transport systems, greater modal shifts from motorized transport and greener sources of energy in the years to come.
(Source – African Development Bank)