This is a comparative study on financing sustainable urban transport systems in cities of Asia and Europe. Financing a sustainable transport system involves huge amount of capital on building new roads, modern railway, air and water transport system. Many countries have to bear the financial burden and hindrance when sourcing capitals to fund a sustainable urban transport such as new roads, light railway transport, bus routes, bus stations and stops. In addition, finance is required for building airports, seaport and facilities. Today more than 50% of the national population live in cities hence, cities are major contributors to the economic growth. In order to meet the socio-economic objectives, governments need to provide a sustainable transport to mobilise the people from one place to another within the urban areas. To achieve the national objectives, both local and federal governments need to provide transport finance and at the same replace or repair obsolete transport facilities. An efficient transport system enables people to move safely and without time wastage.
It is normal that local and national governments work together to formulate a strategic sustainable transport policies that aim to reduce cost and …show more content…
There is no single national fund but a system of various sources that guarantee citizens the best and most cost-effective service. The governments play a key role in coordinating transport programme and distribution of funds. Coordinating bodies like public transport associations or integrated authorities have the opportunity to provide efficient public transport services. Since the mid-1990s, the share of public transport has been continuously increasing in Germany which underlines the success of the German financial