The Inter-American Development Bank (“I.A.D.B.”) and the Green Fund for the Climate created the first regional fund for the promotion of electrical mobility (e-mobility) and the use of green hydrogen in Latin America and the Caribbean (the “Program”). It is predicted that with the Program there shall be a contribution of USD 450 million in concessional loans and donations to nine countries of the region, among which it is Paraguay.
The Program shall promote the transition towards a transportation system low in carbon emissions and therefore, friendly with the environment through the implementation of electrical vehicles and vehicles based on green hydrogen. The intention is to eliminate 7.5 million tons of carbon dioxide emissions and their benefits include: i) lower expenses in the import of fossil fuels, ii) a greater capacity of mobility in the public and private sectors, iii) new green jobs, iv) a fair transition that takes into account the gender and other considerations, and v) an electrical transmission grid more resistant to the climatic events.
Almost two thirds of the funds of the Program (USD 284 million) shall be destined to the financing of integrated electrical urban mobility, through the financing of electrical buses, taxis and other vehicles used in the transportation of passengers, institutional services of delivery vehicles of last mile, institutional trucks and fleets.
On the other hand, the remaining amount of the funds of the Program will be used in the financing of infrastructure of micro-mobility resilient to the climate, such as, for example, vehicles of short distance, freight stations, tracks for bicycles and pedestrian streets. These funds shall also finance the allocation and the improvement of the support to urban spaces and infrastructure for electrical public transportation, the attention to the specific needs of each gender, and the connection of the users with options of alternative urban transportation (electrical and not motorized).
With the Program, it shall also be financed pilot projects of vehicle-to grid (vehicle to the electrical grid, also known as V2G) and of green hydrogen, in order to evaluate their feasibility as ways to increase the resilience of the electrical grid. V2G consists in the use of batteries of vehicles of low carbon emission for the storage of electricity and its later use in situations of climatologic emergencies.
In order to read the detailed publication, please click in the following link: IADB and the Green Fund for the Climate promote the e-mobility in Latin America and the Caribbean | IADB
