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.
Total Project cost is expected to be EUR 5.6 million, which is expected to be co-financed by a Green Climate Fund ("GCF") concessional loan of EUR 2.8 million in addition to the Bank loan of EUR 2.8 million. GAM is seeking to improve its urban transport services and renew its bus fleet through the purchase of up to 151 new buses with related bus depot facilities and ancillary systems. The proposed new bus fleet will serve new routes under the bus network plan developed by GAM. It is intended that the bus fleet will be purchased by GAM and leased to a private sector operator, which will be responsible for the depot facilities and warranty and maintenance obligations for the fleet.
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