India and the US launched a partnership for non-recourse lending to deploy 38,000 electric buses in India. The payment security mechanism (PSM) aims to unlock up to $10 billion in lending and guarantee delayed payments from fiscally constrained state bus companies. India will contribute $240 million, while $150 million will come from the US government. This initiative is crucial for decarbonizing the transport sector and achieving India's goal of net-zero emissions by 2070. The PSM was discussed during Prime Minister Modi's visit to the USA.
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Monday, December 11, 2023
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India News | Latest India News Headlines & Live Updates from India - Times of India
India-US partnership launched to boost electric bus deployment
India-US partnership launched to boost electric bus deployment
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India News | Latest India News Headlines & Live Updates from India - Times of India
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