- Key Facts
- Board of Governors
- Board of Directors
- Departments and Offices
- Policies and Strategies
- Annual Meetings
- Independent Evaluation
- Public Sector (Sovereign) Financing
- Private Sector (Nonsovereign) Financing
- Funds and Resources
- Asian Development Fund
- ASEAN Infrastructure Fund
- Investor Information[日本語]
- Business Opportunities
- Consulting Services
- ADB-Japan Scholarship Program
- News & Events
- Data & Research
- Industry and Trade
- Information and Communication Technology
- Public Sector Management
- Social Protection
- Capacity Development
- Climate Change
- Environmental Sustainability
- Gender and Development
- Poverty Reduction
- Private Sector Development
- Regional Cooperation and Integration
- Social Development
- Urban Development
- Brunei Darussalam-Indonesia-Malaysia-Philippines East ASEAN Growth Area (BIMP-EAGA)
- Central Asia Regional Economic Cooperation (CAREC)
- Greater Mekong Subregion (GMS)
- Indonesia-Malaysia-Thailand Growth Triangle (IMT-GT)
- South Asia Subregional Economic Cooperation (SASEC)
- European Representative Office
- Japanese Representative Office [日本語]
- North American Representative Office
- Pacific Liaison and Coordination Office
- Pacific Subregional Office
Countries with Operations
- China, People's Republic of [中文]
- Cook Islands
- Indonesia [Bahasa Indonesia]
- Kyrgyz Republic
- Lao PDR
- Marshall Islands
- Micronesia, Federated States of
- Papua New Guinea
More 'Green' Buses to Ply Urban Roads in People's Republic of China
MANILA, PHILIPPINES – More public buses with lower greenhouse gas (GHG) emissions will soon be deployed on the roads of major cities in the People’s Republic of China (PRC) as the Asian Development Bank (ADB) helps bus operators shift their fleets to cleaner fuel.
ADB has earmarked $275 million for up to five top-tier financial leasing companies in PRC to finance leased buses that run on cleaner fuel – such as compressed natural gas (CNG) and liquefied natural gas (LNG) – as well as electric and hybrid buses.
“This program will help roll out more green buses onto the streets by easing the funding bottleneck of financial leasing companies and bus operators,” said Philip Erquiaga, Director General of ADB’s Private Sector Operations Department. The program will provide critical long-term finance and may help leverage cofinancing to promote the development of clean bus leasing business in the PRC.
The program is expected to finance the leasing of at least 5,000 clean buses by 2018. From 2019, the program will help avoid GHG emissions of 1.31 million tons per annum.
Several leasing companies have shown significant interest in participating in the program. ADB, through its contacts with provincial and local governments, is also helping leasing companies reach potential clients who are adding clean buses to their fleets.
The expansion of “green” bus services will directly benefit millions of low-income commuters, improve air quality and reduce GHG emissions.
The program is ADB’s first nonsovereign loan program to support sustainable transport in PRC, and is fully in line with the $175 billion commitment of multilateral development banks made during the Rio+20 Summit for transport in developing countries from 2012 to 2022.