GRSF has released its annual report for fiscal year 2024 ("FY24"), showcasing significant strides in its mission to support low and middle-income countries to halve their road traffic fatalities and serious injuries.

In FY24—which covers the period from July 1, 2023 to June 30, 2024—the World Bank approved $2.98 billion in new lending for road and urban transport projects in LMICs. Notably, $315 million of this amount (10.6%) was allocated specifically to road safety, which was catalyzed and informed by GRSF.

To help achieve this outcome, GRSF approved $2.5 million in grant funding for 18 new activities in FY24, bringing its active portfolio to $6.9 million across 50 activities and 26 countries.

During FY24, GRSF achieved the following results:

FY24 also marked critical structural transformations within GRSF, designed to amplify its impact. In alignment with the World Bank Group’s trust fund reform agenda, GRSF transitioned to an Umbrella Trust Fund structure at the beginning of 2024, which will help consolidate and streamline its functions and activities.

Coinciding with this change, GRSF launched a new business plan for the period FY24-27, outlining a new strategy with measurable results around three pillars of action and four cross-cutting themes. Moreover, GRSF has become a standalone unit of the World Bank Transport Global Department as of July 2024, enhancing its capacity to deliver road safety solutions and boost financing over the long term.

Another milestone in FY24 was the creation of the Hart Schafer Road Safety Award, which recognizes excellence in road safety financing and innovation by World Bank teams and government counterparts. The inaugural award, which is managed by GRSF, was presented to the Bangladesh Road Safety Project in early 2024, acknowledging its role in improving road safety in South Asia.

Reflecting on the FY24 annual report, GRSF Program Manager Said Dahdah commented “We are nearly halfway through the UN’s Second Decade of Action for Road Safety, and if we are to achieve the goal of halving road traffic fatalities and injuries by 2030, faster progress is urgently needed. Now is the time to realign our focus and significantly increase financing and support for road safety initiatives. As GRSF continues to grow and evolve, we are thankful for continued support on our common journey toward safer roads for all.”