ADB to provide loan to Yerevan Municipality for purchase of 250  electric buses

ArmInfo. Yerevan Municipality will acquire 250 18- meter electric buses with  assistance from the Asian Development Bank (ADB), as announced by  Anneta Babayan, Advisor to the Mayor, during a meeting at Yerevan  Municipality.

She stated that, according to preliminary estimates, the program's  financial package currently amounts to 98 billion drams, with an  internal rate of return (IRR) of 28.8%. "We expect the program to be  approved by the government, as it fully complies with investment  programs' requirements, including its benefits in terms of climate,  environmental, and socio-economic aspects," Babayan noted.

According to her, the funds will be used not only for the purchase of  vehicles but also for the construction of two depots for electric  transport. Yerevan Mayor Tigran Avinyan added that these electric  buses will fully equip Yerevan's public transportation fleet and  contribute to mitigating air pollution, as their impact on air  quality is estimated to be zero. He also announced that the 250  electric buses will replace the existing HIGER and GAZelle-City  buses. The Mayor instructed Babayan to expedite negotiations with her  colleagues from the Investment Council so that the project can be  discussed at the next meeting.