为安全和可持续的交通基础设施融资

January, 2026 FinancingInfrastructure CopyrightData from this publication can be used and quoted with due acknowledgment to the organisation and programme.© GIB 2026 The images included in this report are intended solely for illustrativeand informational purposes to support the discussion of projects andthemes. The inclusion of images does not imply ownership by the Photographs and visual materials used in this report have beensourced from a combination of: •Case study documentation and publicly available materials from •Open-access image platforms and other royalty-free repositories. Wherever possible, image sources and photographers have beencredited. All images are used for non-commercial, research, andknowledge-sharing purposes. If any image has been inadvertently used without appropriatepermission or credit, please contact the authors, and we will promptlyacknowledge the source or remove the material in subsequent January, 2026 Foreword Chairman of FAST-Infra Group (FIG), Founder and CEO of Meridiam In infrastructure investment, the critical question is no longercanwe deliver sustainability,buthowdo we structure it so that capital flows reliably toward systems that preserve theenvironment and improve people’s lives. This has been Meridiam’s mission since its creation The difference today is that we are no longer alone: most Development Finance Institutions(DFIs), along with many investors, have adopted policies, norms, and standards that makesustainability not just a premium, but a core decision-making criterion for investing in There is no domain where this is more urgent than in the mobility sector and more specificallyin designing, financing and operating road projects: daily, in countless cities and ruralcorridors, each design decision, speed limit, and maintenance contract eases traffic, help For investors and asset managers, road safety must evolve from a reputational add-on to ameasurable performance variable embedded in procurement, financing, and managementof the assets. When safety is internalised, it becomes a source of value: reducing accident In our portfolio of roads and mobility assets, we have begun to operationalise this principlesuch as in the US with theSR 400 Express Laneor inAfrica with the Dakar Mobility Projects. To mobilise private capital at scale for safer and sustainable roads, we must innovate instructuring financial instruments and in aligning risk/return formulas, as proposed in this report. I would like to extend my sincere thanks to all the contributors to this valuable report.I trust that the knowledge it offers will support developers, investors, and operators in Acknowledgements to different stakeholders, and Tom Bishop andMélissande Boyer (Amend) on landmark roadsafety initiatives in Africa. All the contributorsprovided examples and case studies that This Report was prepared by a team led byPablo Nunez and Nathalie Gaullier (GlobalInfrastructure Basel Foundation), with advicefrom Alexandre Chavarot (Climate Finance The team is grateful for the valuable feedbackreceived from and information provided bySergiu Jiduc (FAST-Infra Group), Said Dahdahand Dipan Bose (Global Road Safety Facility – The main contributors to the Report wereHayden Morgan (Pinsent Masons) on legalprovisions for sustainable road development,Emily Wood and Saeed Ibrahim (PIDG),together with James Dunham and Brian Love(Dalmore Capital) on best practices for asset The team would also like to thank ThierryDéau for his foreword and to acknowledge the Contents Foreword Acknowledgements 3. Driving Positive Outcomes through Legal Provisions for 3.1 Key Parties in the Public-Private Partnership Structure and AssociatedLegal Documents66 Executive Summary 1. The Financial Case for Road Safety 1.1 Reframing Road Safety as a Core Investment Metric1.2 The Investment Gap and the Case for Private Finance1.3 Integrating Safety into the Sustainable Finance Architecture1.4 Aligning with Climate and Sustainability Finance Agendas 4. Conclusions and Recommendations 4.1 Priority Actions for Infrastructure Investors and Financiers4.2 Supporting and Enabling Actions from Other Stakeholders 2. Boosting Road Investment Performance throughEnhanced Safety: An Evidence-Based Approach References 2.1 The Link between Road Safety and Investment Performance2.2 Funding National Road Safety Programmes in LMICs2.3 Best Practices on Managing Transportation Asset Portfolios2.4 Road Safety Business Models and Outcome-Based Funding2.5 The Role of Insurance2.6 Investment mechanisms and expected returns172331354045 Appendix AAppendix BAppendix CAppendix DAppendix E Box 6: Designing and monitoring the implementation of road Case Studies 1.Innovative Financing for Safe, Inclusive and ResilientPedestrian Infrastructure: Safe Schools Africa, 5 AfricanCountries2.Safety Upgrades as Risk Management: SafewayConcessions, India (2024)3.Road Safety that Paid Off: Autopistas Del Cafe’, Colombia92122 lllllllll