The eight major multilateral development banks in the world have pledged to invest U$ 175 billion over the next ten years in transport systems that emit lower contents of carbon. The announcement was made on Wednesday, June 20, at the Rio+20 Conference, when it was proposed that sustainable transportation should be established as one of the priorities of the Summit's final document for the next decades.

The commitment was signed by the World Bank (IBRD) and other banks, such as the Asian Development Bank, Inter-American Development Bank, European Bank for Reconstruction and Development, European Investment Bank; African Development Bank; Islamic Confederation Bank and Andina de Fomento Confederation (CAF).

In Brazil, the Federal Government is investing R$ 5.2 billion in the works for sustainable transport - including subways, trains and other vehicles that move though tracks and produce less polluting effects. The president of’ Banco Nacional de Desenvolvimento Econômico e Social – BNDES’ (National Bank for Economic and Social Development), Luciano Coutinho, signed on Wednesday, 20, two financing agreements, totaling R$ 1.47 billion, for the construction works of Sao Paulo’s subway and train systems.

Read the full story on the site of the Brazilian Government (Portuguese)