ADB to fund Ayala’s foray into e-vehicle biz

Quick Summary:

THE Asian Development Bank (ADB) has signed a financing package of up to $100 million with Ayala Corp.to support the development of an electric mobility ecosystem in the Philippines.

The fund builds on the success of the two previous funds, namely the Canadian Climate Fund for the Private Sector in Asia II (CFPS II) and its predecessor, the CFPS, the ADB said.

Meanwhile, a portion of the ADB financing will be allocated to procure electric vehicles from leading manufacturers for distribution across the country.

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Article Details

Author / Journalist: Andrea E. San Juan

Category: BusinessStartups

Markets: PhilippinesCanada

Topics: Charging Climate Electric Philippines Development Ayala According Financing Mobility Fund Vehicles

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-27 @ 16:06:00 (3 days ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 604 words

Reading Time: 4 minutes read

Sentences: 20 lines

Sentence Length: 31 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Mirror

News ID: 25511463

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