This funding accelerates our agenda of promoting and investing in clean and sustainable businesses in India to achieve India’s climate objectives and Sustainable Development Goals,” said EverSource Capital. “By providing safe transport for women, these intercity buses will enhance their ability to participate in economic and livelihood opportunities,” “ Electrifying transportation is a key driver of reducing greenhouse gas emissions in our cities.
“Decarbonization of public transport in India is essential for the country to reach its net-zero climate commitments, and it’s important to ensure safety and security of women passengers to make travel more inclusive,” said ADB Private Sector Operations Department Director General Suzanne Gaboury. The financial package comprises $20.5 million loan (in equivalent Indian rupee) from ADB’s ordinary capital resources, ADB’s administration of a $14 million loan from the Clean Technology Fund (CTF), grants worth $325,000 from the CTF and $5.2 million from Goldman Sach’s and Bloomberg’s the Climate Innovation and Development Fund (CIDF).ĪDB also assisted in mobilizing an additional parallel loan of $20.5 million from the Asian Infrastructure Investment Bank.
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