Cusi mulls rechanneling of ADB loan to e-jeepneys
The quest is by no means over as to where the government would be sourcing funds for the proposed conversion of electric jeepneys (e-jeepneys), hence, Energy Secretary Alfonso G. Cusi is seriously contemplating on taking back the cancelled portion of the R21.67-billion loan from the Asian Development Bank (ADB) that had been previously earmarked for the planned electric tricycles (e-trikes) rollout.
He noted that he has given instruction to his people at the Department of Energy (DoE) to study that option and find a satisfactory solution, as the state wobbles at its “financing hunt” for the massive capital needs of the e-jeepneys’ conversion costs.
Of the total ADB loan amount, it must be culled that it had only been the R1.73 billion fraction that is being eyed now for the limited 3,000 e-trike deployment that the DOE had upheld.
Energy Assistant Secretary Leonido J. Pulido III indicated that at this stage “no formal activities yet” on the proposed re-channeling of the ADB loan to the e-jeepneys rollout program.
“We will finish the e-trike deployment first and then proceed with how we could support our EVs such as ejeepneys, “he qualified.
In the legislative branch, Senate Committee on Energy Chairman Sherwin T. Gatchalian indicated his plan of lodging a measure that shall institutionalize the policy and regulatory frameworks on the country’s mass scale development pathway to EVs.
His concept though is a “market driven rollout,” without the government subsidizing or extending sovereign guarantees to cost components.
“We will coordinate with EV groups – we have to know the technicalities of the law… that should tackle the supply chain – not just the electric vehicles’ conversion, but also the charging stations and the question of supply,” Gatchalian said.