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Transport to get green funds

Lice Movono
Thursday, November 02, 2017

TRANSPORTATION will be a focus area to be funded by the $40 million raised by the Government when it issued its first green bonds yesterday.

Following the successful tender of the first tranche of the green bonds this past week, Attorney-General Aiyaz Sayed-Khaiyum said there was a "plethora" of issues which the bonds were earmarked to address.

Although vague about the details of other projects, he said there was a lot of work around clean transportation the Government could address as a result of the availability of the green bond funds.

"The green bonds also qualify for clean transport too, a lot of issues pertaining to transportation, the types of vehicles that we use, what type of technology we can bring in," he said.

Mr Sayed-Khaiyum said climate resilient development work could not be done in a linear fashion and explained several initiatives to help reduce the transportation sector's carbon footprint.

"It all sinks in as announced in the budget for example, now bus companies will be given 15-year licences, now that gives them a certain level of confidence. That means they can buy buses with newer technology, which means less carbon footprint," he said.

Also, the Minister Responsible for Climate Change and Economy said the proceeds of the green bonds would mean Government could assist other bus companies to adopt new technology, thereby helping to meet "our national determined contributions in respect of our carbon footprint."

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