ADB, JBM Group Sign INR 3.6 Billion Deal to Expand Sustainable Transport in India through E-Buses
Business
The loan will support the procurement of up to 650 e-buses, as well as fund the cost of operations, maintenance, and deployment of depots and charging infrastructure.
ADB was the mandated lead arranger for the the entire debt, amounting to INR 7.2 billion, which included INR 3.6 billion from the Asian Infrastructure and Investment Bank.
The project aims to benefit women by addressing gender gaps in auto transport. ADB, collaborating with JBM Group, has developed a gender action plan to create a safer workplace for women. This includes a centralized closed-circuit television monitoring system, strong safety protocols, and a dedicated driving license program to increase women's participation in nontraditional roles such as bus driving.
Established in 1983, the JBM Group is diversified into automotive components, e-buses, e-vehicle charging infrastructure, e-vehicle components, and renewable energy. It operates over 60 manufacturing plants, five engineering and design centers, and employs 25,000 people across 35 countries.