Consideration of funding proposals – Addendum V Funding proposal package for FP225

The E-Mobility Program, managed by the Asian Development Bank (ADB), aims to replace fossil-fuel buses with battery electric buses (BEBs) and improve urban mobility in Armenia, Georgia, Indonesia, Kazakhstan, Kyrgyz Republic, Nepal, and Uzbekistan. The program integrates mitigation (reducing GHG emissions) with adaptation (increasing infrastructure resilience to floods and heat) and focuses on innovative business models to overcome high upfront costs. It requests USD 169.92 million from the Green Climate Fund (GCF) to leverage a total investment of USD 454.4 million.

• The program targets a total GHG emission reduction of 11,415,080 tCO2eq over the asset lifespan, with a GCF cost of intervention estimated at 15 USD/tCO2e.
• The total financing for the program is 454.4 million USD, with 169.92 million USD requested from the GCF (64.92 million USD in grants and 105 million USD in loans).
• The program aims to deploy approximately 860 electric buses across the participating countries, replacing existing diesel fleets to avoid lock-in of fossil fuel technologies.
• Adaptation measures are focused on three lighthouse cities—Kathmandu, Bishkek, and Tbilisi—using "sponge city" concepts for stormwater drainage and "shade city" concepts to mitigate heat waves.
• The program identifies high upfront capital expenditure (CAPEX) and low operational expenditure (OPEX) as core barriers to EV deployment, proposing business models that separate asset ownership from operations, such as leasing through a Public Asset Company.
• The program expects to reach 1,000,250 direct beneficiaries and 2,681,751 indirect beneficiaries through its adaptation and mobility measures.
• Environmental co-benefits include the reduction of 507 tonnes of PM2.5 and 15,120 tonnes of NOx, with associated economic health cost savings estimated at 67 million USD.
• A Gender Action Plan (GAP) is integrated to address the underrepresentation of women in transport jobs and safety concerns, including a target to provide professional driving scholarships to 210 women.
• The program's economic internal rate of return (EIRR) is estimated at 14%, which exceeds the ADB's 9% social discount rate.
• The program includes a technical assistance component (Component 4) to develop e-mobility roadmaps, provide capacity building, and design conducive policies at local, national, and regional levels.

APA

Green Climate Fund (2024). Consideration of funding proposals – Addendum V Funding proposal package for FP225. https://www.greenclimate.fund/sites/default/files/document/gcf-b38-02-add05-funding-proposal-package-fp225.pdf

Chicago

Green Climate Fund. Consideration of funding proposals – Addendum V Funding proposal package for FP225. 2024. https://www.greenclimate.fund/sites/default/files/document/gcf-b38-02-add05-funding-proposal-package-fp225.pdf.

Wikipedia

{{cite report |author=Green Climate Fund |title=Consideration of funding proposals – Addendum V Funding proposal package for FP225 |date=12 February 2024 |url=https://www.greenclimate.fund/sites/default/files/document/gcf-b38-02-add05-funding-proposal-package-fp225.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{greenclimatefund2024consideration, author = {{Green Climate Fund}}, title = {{Consideration of funding proposals – Addendum V Funding proposal package for FP225}}, institution = {Green Climate Fund}, year = {2024}, month = feb, url = {https://www.greenclimate.fund/sites/default/files/document/gcf-b38-02-add05-funding-proposal-package-fp225.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }