On 9 August, iRAP CEO Rob McInerney presented alongside India’s Minister of Road Transport and Highways Nitin Gadkari and other eminent experts on road safety investments and private sector partnerships that do well and do good in India.
The event was hosted by the World Bank and the Federation of Indian Chambers of Commerce and Industry (FICCI) and included expert speakers from the World Bank, FICCI, Ministry of Road Transport and Highways (MORTH), iRAP, Impact Strategist, MapMyIndia, Hella India Lighting, Uber and SaveLIFE Foundation.
As part of the iRAP’s global partnership with the International Finance Corporation (IFC) and Fédération Internationale de l’Automobile (FIA), the charity is shaping results-based financing for 3-star or better roads that help meet the United Nations Global Goals and save lives.
Rob’s presentation focussed on “International Perspectives on Private Financing in Road Safety and Opportunities for India”.
Seventeen people die on India’s roads every hour and road crashes cost the country 3-5 per cent of national GDP each year.
The locally owned and led Road Assessment Programme IndiaRAP is working with the government, development banks and funding agencies, mobility clubs, research organisations, industry and road safety NGOs to eliminate high-risk roads in the country.
Working together, impact investment has the potential to unlock the Business Case for Safer Roads in India and finance sustainable development in the country which promotes economic growth and improved health outcomes.
According to iRAP’s Vaccines for Roads Big Data Tool, with widespread application of low-cost maintenance safety treatments, well-targeted investment in infrastructure upgrades and safer speeds across the India’s road network, an estimated 100,000 lives can be saved every year if Target 3 is met.
See the event programme here.
Read more on Impact Investment here.