E-Motion: E-Mobility and Low Carbon Transportation

  • Mitigation
  • Under implementation
Date approved
20 Oct 2022
Est. completion
14 Jun 2028
ESS Category
Category B
Financing
Public sector
Entity
Corporación Andina de Fomento

Overview

In Panama, Paraguay, and Uruguay, the transport sector accounts for a significant percentage of the countries’ total greenhouse gas (GHG) emissions. GHG emissions from the transport sector are anticipated to rise from present levels to nearly 50 per cent by 2050 unless major action is taken to change the transport emissions trajectory. This involves the development of integrated electromobility ecosystems across various transport modes, which take advantage of Latin America’s low-carbon electricity generation (primarily hydroelectric production and wind and solar power plants) and strong enabling environment for e-mobility. 

The Programme aims to strengthen the e-mobility conducive ecosystem at the local, national, and regional levels. It incorporates public and private sector vehicle fleet financing as well as technical assistance activities such as targeted policy advice, business model development, stakeholder management, and capacity building – all of which are gender mainstreamed. The project invests in large scale e-bus fleets, deployment of light electric commercial vehicles, and fast charging infrastructure. By doing so, it will accelerate the deployment of e-mobility solutions, reduce GHG emissions, and connect cities and communities in Panama, Paraguay, and Uruguay through clean, safe, and reliable transportation options.  

Result areas

Project timeline

  • Pipeline

    552 days

    • Funding proposal received

    • Cleared by GCF Secretariat

    • Cleared by iTAP

  • Approved

    238 days

    • Approved by GCF Board

    • Legal opinion on AE's Internal Approval

    • FAA executed

  • Under implementation

    1,098 days so far

    • FAA effective

  • To be completed

    730 days to go

    Not started

  • Total project value $ 231 million

  • Tonnes of CO2 equivalent avoided 3.3 million

Financing

GCF-financing

0.0%

USD

Co-financing

0.0%

USD

USD 231 million

Show details

GCF-financing

14% disbursed

  • Grant USD 9,821,100
  • Loan USD 66,795,450
  • Total GCF-financing USD 76,616,550

Co-financing

  • Loan USD 121,991,550
  • Equity USD 30,443,000
  • Inkind USD 1,765,700
  • Inkind USD 216,000
  • Total co-financing USD 154,416,250

Documents

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