The World Bank is working on an investment platform to simplify the financing for green transportation networks
Transport is a critical enabler of global trade and sustainable development. International transport networks and nodes provide physical infrastructure on which our globalizing trading system depends. Following the path through a just transition, the European Union aims at modernizing the transport infrastructure to meet global climate targets. But the main problem is that many of the investments made in this sector tend to be fragmented and small scale, and consequently they do not attract big industrial investors.
Binyam Reja, global Practice Manager of Transport at the World Bank, proposed a solution during one of the side-events that were organized along the COP-27 in Sharm-El-Sheikh. Bringing a global perspective, Reja talked about the need to find innovative financing instruments and approaches that can promote connectivity, especially in low and middle income countries, which experience the worst effects of climate change. In order to solve the issue of the lack of financing interest that causes the investments in the green transportation sector to be small and fragmented, the World Bank announced that it is working on