Supporting the Region’s transition to electrifying its bus fleet
Fast facts
As part of its Climate Change Action Plan, Durham Region plans to transition its bus fleet from diesel to ZEBs in the next ten years, and the CIB investment helps achieve that goal.
Our investment will finance a portion of the 100 ZEBs which Durham Region plans to purchase through 2026 and will be repaid from overall cost savings as measured against costs of an equivalent diesel bus.
Benefits of CIB’s Involvement
Our Zero-Emission Buses Initiative assists transit agencies and school boards in transitioning their fleets to modern, environmentally friendly vehicles. The financing, in the form of direct loans, can cover a portion of the higher upfront capital cost of ZEBs compared to diesel buses. We enable our partners to modernize their bus fleets on an accelerated basis by taking advantage of our flexible financing options.