Development Banks Commit $175B For Transportation Upgrades

Law360, New York (June 20, 2012, 3:40 PM EDT) -- Several development banks from around the globe on Wednesday unveiled plans to supply more than $175 billion in loans and grants earmarked for transportation upgrades in developing countries, including through new energy-efficient projects.

The pledged backing is meant to stem the negative health and environmental consequences associated with a rapid rise in motorized transport in developing countries that lack measures to keep air pollution and harmful emissions in check, the Asian Development Bank said in a statement.

Globally, the transport sector's carbon dioxide emissions, which scientists...
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