An evaluation is carried out to allocate cooperation funds to support sustainable transportation
In the annual meeting of the Multilateral Development Banks which signed the Río +20 Sustainable Transportation Commitment, the possibility that the United Kingdom's International Development Department could channel resources toward different developing regions was explored.
With the purpose of presenting the advances achieved by the eight institutions that make up the Río +20 Sustainable Transportation Commitment, the annual meeting of the Multilateral Development Banks (MDB) was held at the headquarters of the European Bank for Reconstruction and Development, in London.
During the working session, which included the participation of the Secretary of State of the DFID, CAF, Development Bank of Latin America, the (BAfD), the Asian Development Bank (ADB), the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB), the Inter-American Development Bank (IDB), the Islamic Development Bank (ISDB) and the World Bank (WB) explored the possibility that the Department for International Development (DFID) could channel resources toward the different developing regions to support sustainable development through the banks.
"CAF's action in the transportation sector is aimed at supporting its shareholder countries in their efforts to build and maintain a sustainable infrastructure which is efficient and updated as a basic condition to achieve the proposed goals of economic competitiveness and social inclusion", stated Jorge Kogan, advisor to the Institution's Infrastructure Vice Presidency.
The Transportation sector directly contributes to the gross domestic product (GDP), and indirectly allows other sectors to contribute to the social and economic development of most countries. In June of 2012, during the United Nations Rio +20 Conference on Sustainable Development, the eight multilateral organizations delivered a joint statement called Sustainable Transportation Commitment, which agreed to develop a common framework to monitor sustainability in the transportation operations in developing countries, and channel more funds for that objective.
Thus, CAF consolidates as an innovative institution, which responds quickly to the problems and needs of Latin American cities by promoting opportunities in services, reducing poverty, and generating inclusive growth.
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