Development banks pledge $175bn for public transport at Rio+20

Guardian: The world's biggest development banks have made a fundamental investment shift from roads to public transport, under a $175bn (£111bn) initiative to promote buses, trains and cycle lanes that was unveiled on Wednesday at the Rio+20 Earth summit. The eight largest multilateral development banks (MDBs) announced they will invest these funds -- the biggest sum committed at the conference so far -- over the next ten years to transport systems that help to reduce greenhouse gases, improve access for...

URL: http://www.guardian.co.uk/environment/2012/jun/20/development-banks-rio20-public-transport
Enclosure: http://static.guim.co.uk/sys-images/Guardian/About/General/2011/8/24/1314173253324/A-traffic-jam-along-a-mai-007.jpg