Amman Electric Bus Project

repaying

Provision of up to EUR 2.8 million (to be available in JOD) unsecured sub-sovereign loan to GAM to finance the purchase of up to 15 new battery electric buses ("BEB"), as a pilot rollout for the first electric bus transport in the city. The Project is a follow-on investment of Amman's Green City Action Plan, and is part of a larger fleet expansion project that involves purchasing a total of 151 buses, including 136 diesel Euro V buses in addition to the remaining 15 BEB buses considered herein. The Project aims to improve public transport in the city of Amman, while serving as a crucial first step towards transitioning into low-carbon transport infrastructure. The Project total cost is estimated at EUR 9.6 million, and it is expected to be co-financed by a concessional loan from the Green Climate Fund ("GCF") of up to EUR 2.8 million and an investment grant from the UK government under EBRD's High Impact Partnership for Climate Action multi-donor fund ("HIPCA UK") of up to EUR 4 million.