The Energy Department plans to apply for a new loan from the Asian Development Bank to roll out the government’s electric jeepney program, a year after the government cancelled the loan for the electric tricycle program. If we can’t, we have to apply for a new loan,” Cusi said. Cusi said the department was waiting for the no objection letter from the ADB for the e-trike program. The department issued the amendments to the ADB loan which was reduced to P1.73 billion for the electric tricycle program from the original project cost of P21.672 billion. The ADB loan was under the agency’s Market Transformation through Introduction of Energy-Efficient Electric Vehicles Project.

Source: The Standard October 23, 2017 11:26 UTC