The Asian Development Bank (ADB) and the JBM Group have signed a 3.6 billion rupee (US$43.2 million) non-convertible debenture loan to expand access to electric buses in the Indian states of Haryana and Odisha.

ADB was the mandated lead arranger for the the entire debt, amounting to 7.2 billion rupees. The other 3.6 billion rupees was provided by the Asian Infrastructure Investment Bank.

The loan will support the procurement of up to 650 e-buses, and fund the cost of operations, maintenance, and deployment of depots and charging infrastructure.

“Supporting electric buses is an investment not only in sustainable transport, but also in public health through cleaner air and in climate action through lower emissions. By promoting e-mobility, ADB is helping communities reduce their carbon footprint, improve public transport, and build eco-friendly urban infrastructure,” says Suzanne Gaboury, director general for ADB’s private sector operations department. “ADB’s partnership with the JBM Group will help build clean, safe, and inclusive public transport in India.”

The project also aims to benefit women by addressing gender gaps in the auto transport sector. 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 licence programme to increase women's participation in non-traditional roles such as bus driving.