The Asian Development Bank (ADB) has signed a USD10 million financing deal with PT TBS Energi Utama Tbk (TBS) to support sustainable transportation in Indonesia.
The funds will aid the procurement of electric motorcycles and the establishment of battery-swapping stations. This initiative aims to cut down on greenhouse gas emissions and promote eco-friendly transportation options. The project is expected to reduce emissions by 123,000 tons annually and will be managed by Electrum, a subsidiary of TBS.