IDB finances electric cars in Ecuador

IDB finances electric cars in Ecuador

Loans Debt Ecuador Economy & Policy Regulation Brazil United States ESG Electricity Renewable

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. The

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