Municipality of São Paulo to expand electric bus fleet with IDB support

The Municipality of São Paulo, Brazil, has received the approval for a 248 million dollars financing program from the Inter-American Development Bank (IDB) to support the electrification of its public bus fleet.

The loan has a 15-year repayment term, a six-year grace period, and an interest rate based on SOFR. It is estimated that the program will benefit approximately 7 million public-service passengers in the city, where there are already 527 electric vehicles and a goal of incorporating 2,200 clean-energy buses.

Moreover, IDB will support initiatives to improve the management of the city’s bus system, which is managed by the SPTrans public-private partnership.