AIMA

India Seeks Funds from World Bank and ADBfor E-Buses

Thursday 28th September, 2017

Article Details
Publication  The Economic Times
Source  Bureau
CCM  14.35
Edition  New Delhi
Supplement   NA
MAV  105,329
Language  English
Page  13
Circulation  139,000

  • View Image
  • View PDF

India Seeks Funds from World Bank and ADBfor E-Buses
Our Bureau
New Delhi: India has sought funds from World Bank and Asian Development Bank (ADB) to procure electric buses for all maj or cities to fuel its electric mobility plan "We've requested them to provide such loan at reasonable rates so that we can procure e-buses and give them to state road transport corporations. Loan can be paid back through the savings that would be made on account of moving to electric from diesel," Gadkari said at the All India Management Association event on Wednesday The minister said at the rate people are buying vehicles, the government will have to spend ?80,000 crore in next five years to expand the lanes on national highways. "We have 22% growth of vehicles every year. At this rate, we'll have no roads to drive soon. In any case we have no parking. I want to provide sustainable city transport and also intercity as well," he said.