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Proparco and FDN to fund the deployment of electric buses in Bogota, Colombia [free access]

March 19, 2021

Proparco, the private sector financing arm of Agence Française de Développement (AFD), has announced plans to provide a USD52 million loan for the deployment of 250 electric buses in Bogota, the capital of Colombia. The loan will be extended in collaboration with Financiera de Desarrollo Nacional (FDN), a Colombia-based development bank. The electric buses will replace diesel buses operated by concessionaires of Electribús Bogotá. The loan also includes an innovative coverage scheme that will also fully finance the programme to replace bus batteries in 2028.

 

Electribús Bogotá will operate 259 electric buses in the city under a 15-year-long concession agreement. The Electribús Bogotá consortium includes Ashmore Management Company (a subsidiary of Ashmore PLC), an international private fund manager,  and SOMOS K, a bus operator.