Book

Sustainable Urban Transport Financing from the Sidewalk to the Subway : Capital, Operations, and Maintenance Financing

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collection.link.34
https://openknowledge.worldbank.org/handle/10986/2142
collection.name.34
World Bank Studies
dc.contributor.author
Ardila-Gomez, Arturo
dc.contributor.author
Ortegon-Sanchez, Adriana
dc.date.accessioned
2015-12-28T16:57:24Z
dc.date.available
2015-12-28T16:57:24Z
dc.date.issued
2016
dc.description.abstract
Urban transport systems are essential for economic development and improving citizens' quality of life. To establish high-quality and affordable transport systems, cities must ensure their financial sustainability to fund new investments in infrastructure while also funding maintenance and operation of existing facilities and services. However, many cities in developing countries are stuck in an "underfunding trap" for urban transport, in which large up-front investments are needed for new transport infrastructure that will improve the still small-scale, and perhaps, poor-quality systems, but revenue is insufficient to cover maintenance and operation expenses, let alone new investment projects. The urban transport financing gap in these cities is further widened by the implicit subsidies for the use of private cars, which represent a minority of trips but contribute huge costs in terms of congestion, sprawl, accidents, and pollution. Using an analytical framework based on the concept of "Who Benefits Pays," 24 types of financing instruments are assessed in terms of their social, economic and environmental impacts and their ability to fund urban transport capital investments, operational expenses, and maintenance. Urban transport financing needs to be based on an appropriate mix of complementary financing instruments. In particular for capital investments, a combination of grants –from multiple levels of government– and loans together with investments through public private partnerships could finance large projects that benefit society. Moreover, the property tax emerges as a key financing instrument for capital, operation, and maintenance expenses. By choosing the most appropriate mix of financing instruments and focusing on wise investments, cities can design comprehensive financing for all types of urban transport projects, using multi-level innovative revenue sources that promote efficient pricing schemes, increase overall revenue, strengthen sustainable transport, and cover capital investments, operation, and maintenance for all parts of a public transport system, "from the sidewalk to the subway."
en
dc.identifier.isbn
978-1-4648-0756-5
dc.identifier.uri
http://hdl.handle.net/10986/23521
dc.language.iso
en_US
dc.publisher
Washington, DC: World Bank
dc.rights
CC BY 3.0 IGO
dc.rights.holder
World Bank
dc.rights.uri
http://creativecommons.org/licenses/by/3.0/igo
dc.subject
capital
dc.subject
development
dc.subject
financing
dc.subject
revenue
dc.subject
subsidies
dc.subject
sustainability
dc.subject
urban transport
dc.title
Sustainable Urban Transport Financing from the Sidewalk to the Subway
en
dc.title.subtitle
Capital, Operations, and Maintenance Financing
dc.type
Book
okr.date.disclosure
2015-12-28
okr.doctype
Publications & Research :: Publication
okr.doctype
Publications & Research
okr.googlescholar.linkpresent
yes
okr.identifier.doi
10.1596/978-1-4648-0756-5
okr.identifier.report
102364
okr.language.supported
en
okr.topic
Transport :: Transport Economics & Policy Planning
okr.topic
Urban Development :: Transport in Urban Areas
okr.topic
Urban Development :: Municipal Financial Management
okr.topic
Infrastructure Economics and Finance :: Infrastructure Economics
okr.unit
GTIDR

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