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PIARC (World Road Association), founded in 1909 and comprising 125 member governments from all over the world, is the global forum for exchange of knowledge and experience on roads, road transport policies and practices. With consultative status to the Economic and Social Council of the United Nations, the Association is contributing to a stable and sustainable global development of the road and transport sector.

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Term of the Road Dictionary

discount rate

  • Language : PIARC Road Dictionary / English
  • Theme : Financial and Legal Tools Finance and Procurement Economics and Finance
  • Definition : Percentage rate used to discount future cash flows to enable comparisons to be made between payments made at different times. Note: the rate quantifies the extent to which a sum of money is worth more to decision-makers today than the same amount at a future time (year).

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