Azerbaijan, Baku, Sept. 8 / Trend N.Ismayilova /
The Asian Development Bank (ADB) is planning to mainstream sustainable approach in road sector and increase its development in urban transport and railways sector for the period of 2011-2020 in developing Asia and Pacific region, the bank reported.
This goal is set in ADB's Sustainable Transport Initiative (STI) Operational Plan released for general public.
"STI supports development of accessible, safe, environment-friendly, and affordable transport system in Asia and Pacific countries," the report reads.
Lending for roads will be gradually adjusted to focus on aspects that are instrumental for improving sustainability. The significant changes will also include overtaking of lending for roads, although remaining a larger part of operations, by other transport subsectors by 2020. According to STI, ADB will invest $3-4 billion annually in sustainable transport in Asia and Pacific region.
Through STI, ADB has identified four opportunities for introducing new and enhanced lending operations to scale-up its support for sustainable transport: urban transport, addressing climate change in transport, cross-border transport and logistics, and road safety and social sustainability.
ADB was established in 1966 under the Agreement Establishing the Asian Development Bank (Charter), which is binding upon the member countries that are its shareholders. As of 31 December 2010, ADB had 67 members, of which 48 were drawn from Asia and the Pacific region.
ADB is headquartered in Manila, Philippines and has offices worldwide including representative offices in North America (Washington, DC), Europe (Frankfurt), and Japan (Tokyo).