Govt signs agreement with international bank to promote ‘Green Buses’

India has signed grant agreement with IBRD, acting as an implementing agency of the Global Environment Facility for US $ 9.20 million for efficient and sustainable city bus service project

0
610

New Delhi: An agreement for Global Environmental Facility (GEF) Grant of USD 9.20 Million with the World Bank for “Efficient and Sustainable City Bus Service Project” was signed on May 31st by Mr Rai Kumar, Joint Secretary (MI), Department of Economic Affairs on behalf of the Government of India and Mr Onno Ruhl, Country Director, World Bank (India) on behalf of International Bank for Reconstruction and Development, acting as an Implementing Agency of the Global Environment Facility.

Representatives from Ministry of Urban Development and State Governments of Madhya Pradesh, Maharashtra, Rajasthan and Chandigarh (UT) were also present on the occasion.

The total program cost is USD 113.0 million, with USD 9.20 million as grant from the GEF and USD 103.07 million from government of India and state and city governments for funding of buses and ancillary infrastructure.

The project’s development objective is to improve the efficiency and attractiveness of city bus transport and reduce greenhouse gas emissions in the demonstration cities. It comprises:

(i) a national capacity building component to be implemented by Ministry of Urban Development (MoUD)

(ii) city demonstration projects in the cities of Bhopal, Chandigarh, Jaipur and Mira Bhayandar.