The Asian Development Bank has issued a loan of 3.6 billion rupees ($43 million) to Indian electric vehicle and renewables conglomerate JBM Group to promote green public transportation. The deal is part of a debt package of 7.2 billion rupees ($86 million) arranged by ADB. The other half is being committed by the Asian Infrastructure and Investment Bank.
The loan will support JBM’s acquisition of 650 e-buses, as well as the construction of depots and charging infrastructure in the states of Haryana and Odisha.
The investment will “build eco-friendly urban infrastructure,” said ADB’s Suzanne Gaboury, and support “public health through cleaner air and climate action through lower emissions.”
India’s transport sector accounts for 12% of the country’s energy-related emissions. Its energy demand and carbon emissions are expected to double by 2050. The government has adopted policies to curb transportation emissions, including offering subsidies for EV purchases and charging infrastructure.
Gender smart
Women in India’s auto transport sector make up just 15% of the workforce and are usually in business operations roles. To increase women’s involvement in the sector, ADB and JBM have created a “gender action plan” to train more female drivers and implement measures to ensure their safety.
