For the development of 255 electric battery-powered buses with a focus on women's safety, the Asian Development Bank (ADB) and GreenCell Express Private Limited (GEPL) signed a $40 million funding agreement.
On 56 intercity routes, these e-buses are thought to transport five million passengers annually in India.
They come with security features like cameras, tracking, and panic buttons that are connected to command controls for quick action. Additionally, training sessions on safety procedures targeted at female passengers will be performed for bus drivers and cabin hosts.
14,780 tonnes of emissions will be reduced annually as a result of the project.
“India’s public transport needs are expected to grow rapidly as the country urbanizes. In 2020, road transport accounted for 87 per cent of all passenger trips, 18 per cent of total energy consumption, and 11.7 per cent of greenhouse gas emissions,” ADB said.
According to Director General of the ADB Private Sector Operations Department Suzanne Gaboury, "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."
The funding package consists of a $ 20.5 million loan from ADB's regular capital resources, a $ 14 million loan from the Clean Technology Fund (CTF), grants totaling $ 3,25,000 from the CTF, and $ 5.2 million from the Climate Innovation and Development Fund of Goldman Sachs and Bloomberg (CIDF).
ADB also helped the Asian Infrastructure Investment Bank secure a second parallel loan totaling $20.5 million.
