Mobilising Private Sector Capital for Road Safety

Mobilising Private Sector Capital for Road Safety

The IRF convened on 10th June an interactive workshop with road concessionaires and other key stakeholders on mobilising private sector capital for road safety. The workshop supports a World Bank Group initiative being implemented in partnership with the International Road Assessment Programme (iRAP) and the Federation Internationale de l’Automobile (FIA).

Road crashes are the biggest killer of young people worldwide. More than 100,000 people are killed and injured on the world’s roads each and every day. The proven, high-return, and evidence-based infrastructure solutions to save lives exist.  There is currently a significant underfunding of infrastructure for road safety and a latent need to mobilize private financing. It is estimated that an additional US$260 billion of financing will be required to achieve the road safety related Sustainable Development Goals (SDGs) 3.6 and 11.2 in low and middle-income countries (LMICs) over the coming decade.  

Mobilizing financing for road safety interventions is very high in the agenda of the World Bank Group (WBG) and the United Nations and it is a fundamental part of the WBG sustainable transport strategy.  Increasing private investment in road safety, including through Social Impact Bonds, was highlighted as a high priority area during the 3rd Global Ministerial Conference on Road Safety that was held in Stockholm in February 2020.   

The workshop convened by IRF offered the possibility to exchange views and expertise while solutions are being sought to support impact investment and innovative finance initiatives for road safety. The Association of European Tollway Operators (ASECAP) and its USA equivalent, IBTTA shared also their views at the meeting. 

Please contact IRF at Info@irfnet.ch to learn more or to get involved. 

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