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IFC Pledges USD 137 Million to JBM ECOLIFE for Electric Public Transport Expansion in India.

Banking & Finance | Dated: 15 Sep 2025

In September 2025, the International Finance Corporation (IFC), the private sector arm of the World Bank Group (WBG), pledged USD 137 million (Rs 1,210 crore) to JBM ECOLIFE (JBM), a subsidiary of JBM Auto Ltd, to promote electric buses and innovative urban mobility solutions across India. This marks IFC’s largest global e-bus investment and its first in Asia.

🎯 Key Highlights:

  • - IFC’s funding is split into USD 100 million (Rs 883 crore) for JBM ECOLIFE and USD 37 million (Rs 327 crore) for GreenCell, backed by Eversource Capital, supporting electric mobility initiatives.
  • - The project will deploy 4,000 e-buses and associated charging stations across 39 municipalities in 8 Indian states/Union Territories: Maharashtra, Assam, Gujarat, Andhra Pradesh, Bihar, Madhya Pradesh, Puducherry, and Delhi.
  • - The initiative incorporates a Payment Security Mechanism (PSM) to minimize payment risks for municipal and state transport undertakings, improving bankability and replicability of e-bus projects nationwide.

💡 Other Important Facts:

  • (i) India currently operates over 2 million buses, and the government targets 40% electric bus penetration by FY2030, emphasizing sustainable urban transport growth.
  • (ii) IFC’s investment is a landmark in global e-mobility financing, making it the largest e-bus funding globally and first Asian venture by IFC in this sector.

📚 Test Your Knowledge:

Recently, the International Finance Corporation (IFC) pledged financial support of USD 137 million to which company for electric public transport in India?

Correct Answer: JBM ECOLIFE (JBM)

🚀 Quick Recap: