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12 October 2023

The Asian Development Bank will allocate $170 million to popularize electric vehicles in Uzbekistan

First Deputy Minister of Transport Mamanbiy Omarov, at a meeting with representatives of the Asian Development Bank (ADB), discussed issues related to the financing of the Electric Vehicle Program implemented by the Green Climate Fund, the correspondent of UzA National News Agency reports.

At the meeting, funds in the amount of 170 million US dollars were proposed to finance this program in seven countries, in particular in Uzbekistan. Of this, $65 million is in grants and the remaining $105 million is in loan financing.

The funds will be used to remove barriers to the popularization of commercial electric vehicles, as well as to deploy a fleet of electric buses and supporting infrastructure, and improve the public transport system.

Along with this, the program includes 4 areas that provide support for government policy aimed at developing the sector.