December 11, 2020
The Inter-American Development Bank (IDB) said it has arranged a conditional credit line for $43 million to provide financing for purchases of electric buses and taxis in Ecuador.
The financing includes a 40-year loan for $33 million from the World Bank's Clean Technology Fund (CTF) and a 25-year loan for $10 million from the development bank itself. The CTF credit comes with 10.5-year grace period, while the other loan has a six-year grace period, the IDB said in a press release Wednesday.
US-based development bank arranges $43 mln in long-term loans for electric buses and taxis