KMB and Bank of China (Hong Kong) signed three-year loan agreement for 500 Million HKD to purchase electric buses
Kowloon Motor Bus (KMB) and Bank of China (Hong Kong) (02388) announced the signing of a three-year, HK$500 million bilateral loan on 28th April, of which HK$200 million is a green loan, which will be used to finance or refinance the purchase of electric buses. The green loan has received an independent second-party opinion from the Hong Kong Quality Assurance Agency and meets the standards for public transport under the Hong Kong Sustainable Finance Classification (Phase 2A).
As Hong Kong’s largest franchised bus operator, KMB has been a leader in promoting green travel. The group currently owns the largest electric bus fleet in Hong Kong, with over 80 vehicles deployed in busy urban areas and new development zones. To date, KMB’s electric bus fleet has accumulated over 8 million kilometers of mileage, reducing carbon emissions by over 11,000 tons, equivalent to the annual emissions of over 2,500 citizens.
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