E-Mobility Program for Sustainable Cities in Latin America and the Caribbean

  • Cross-cutting
  • Under implementation
Date approved
20 Jul 2022
Est. completion
14 Apr 2030
ESS Category
Category B
Financing
Public sector
Entity
Inter-American Development Bank

Overview

The Latin America and the Caribbean (LAC) region is one of the most vulnerable to the impacts of climate variability and change. This is due to its socio-economic context and the high exposure faced by its populated areas, infrastructure, and ecosystems to multiple climate related hazards. These include tropical cyclones, heatwaves, droughts, more intense precipitation, sea level rise, and coastal and inland flooding. As urban areas continue to grow across the region, disaster risks linked to climate change critically impact the planning and design of cities and their key infrastructure such as urban transport systems.   

The E-mobility Program for Sustainable Cities in LAC targets sustainable urban development through measures that strengthen and improve urban public transport and the quality of life in secondary cities.  The Program links e-mobility with sustainable urban transport system development and climate resilience in nine countries. It enables the uptake of electric vehicles (EVs), tackling persistent financing barriers caused by high capital expenditure costs, performance risks, and low profitability. It finances electric buses and electric vehicle fleets, electric boats and vessels, and supports hydrogen projects and vehicle-to-grid projects for urban mobility. The focus of the Program is on commercial e-mobility to support the significant modal shift from private vehicles to various modes of public transport EVs. It also works to establish electric mobility frameworks, including gender actions plans, to promote transformative urban mobility that is resilient to climate change. 

Result areas

Project timeline

  • Pipeline

    607 days

    • Concept note received

    • Funding proposal received

    • Cleared by GCF Secretariat

    • Cleared by iTAP

  • Approved

    269 days

    • Approved by GCF Board

    • Legal opinion on AE's Internal Approval

    • FAA executed

  • Under implementation

    1,159 days so far

    • FAA effective

  • To be completed

    1,399 days to go

    Not started

  • Total project value $ 450 million

  • Tonnes of CO2 equivalent avoided 7.5 million

  • Total number of beneficiaries 8.9 million

Financing

GCF-financing

0.0%

USD

Co-financing

0.0%

USD

USD 450 million

Show details

GCF-financing

2% disbursed

  • Grant USD 55,000,000
  • Loan USD 145,000,000
  • Total GCF-financing USD 200,000,000

Co-financing

  • Grant USD 5,000,000
  • Loan USD 195,000,000
  • Other USD 50,000,000
  • Total co-financing USD 250,000,000

Documents

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