Sector: Public Transit
The CIB recognizes that investments in greener transit can reduce Greenhouse Gas (GHGs) for Canada, provide citizens with cleaner and faster commutes, support the financial sustainability of public transit providers, and improve the quality of life for Canadians, particularly those living in larger cities.
The CIB is working with public transit owners and project sponsors across the country regarding projects including Zero Emission Buses (ZEBs), light rail transit, bus rapid transit, subways, transit-oriented development and more.
In general, the CIB can provide innovative financing solutions for transit and specifically offer flexible financing for ZEBs and related charging infrastructure. The CIB’s ZEBs initiative is expected to result in GHG reductions over the life of electric buses financed in the first three years, and create employment.
Zero Emission Buses Initiative
Diesel buses are significant greenhouse gas contributors across Canada. Zero-emission buses (ZEBs) are an alternative to both improve transit and make a transition to low-carbon infrastructure. CIB’s $1.5 billion initiative targets the accelerated adoption of an estimated 4,000 ZEBs, comprising of a mix of transit and school buses.
Bus Owners, including transit and school bus operators, can take advantage of CIB’s financing to modernize their bus fleets on an accelerated basis. CIB’s financing, in the form of direct loans, can cover the higher upfront capital costs of ZEBs and charging infrastructure versus diesel buses.
Repayments of CIB’s loans under the initiative are sourced solely from actual savings generated by the lower cost of operating ZEBs compared to the higher cost of operating diesel buses.
For more information please follow the links below:
- Details on the CIB’s ZEB initiative
- Government of Canada targets zero emission bus transportation with launch of new fund
To inquire about eligibility or obtain additional information please email to firstname.lastname@example.org
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