AfDB's Green Mobility Facility Gets $13.46 Million Boost
AfDB's Green Mobility Facility Gets $13.46 Million Boost
The package combines a $12.46 million concessional loan and a $1 million technical assistance grant.
What’s Getting Funded:
▪ electric buses;
▪ two- and three-wheelers;
▪ renewable-powered charging infrastructure;
▪ battery swapping stations;
▪ EV manufacturing.
The Urgent Challenge: Africa’s urban population is set to double by 2050. While demand for public transport is skyrocketing, e-mobility remains stuck in fragmented pilot phases due to high upfront costs, perceived risks, and a lack of long-term financing.
What is the Green Mobility Financing Facility for Africa (GMFA)?
An African Development Bank initiative using "blended finance" (mixing grants and loans) to lower investment risks and unlock private capital for low-emission public transport, ultimately reducing greenhouse gas emissions across the continent.
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