Karnataka seeks World Bank aid to induct 4,000 electric buses

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The Karnataka cabinet on April 11 approved the Preliminary Project Report (PPR) submitted to the Centre to avail World Bank funding for the induction of 4,000 electric buses across four state-run transport corporations, including KSRTC and BMTC.

Speaking to reporters, Law and Parliamentary Affairs Minister HK Patil said, “The PPR has been submitted to the Central Government through the DEA (Department of Economic Affairs) portal in collaboration with the World Bank. The proposal seeks a Rs 3,000 crore loan at a low interest rate to procure and operate 4,000 electric buses across four transport corporations.”

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He added that the cabinet has given ex-post facto approval to the PPR prepared by the transport department under ‘Karnataka Electric Bus Programme’.

Transport secretary NV Prasad told Moneycontrol that the project is still awaiting final approval. “The Karnataka government submitted the proposal for World Bank assistance, which the Government of India has since forwarded to the World Bank. Once the World Bank approves it, the proposal will be taken to the state cabinet for final approval — currently, it's only at the preliminary stage,” he said.

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“Only Rs 2,000 crore has been requested as a loan, and initial approvals have been obtained. However, final approval is still pending, and we don’t know when it will come through. Whether the buses will be purchased outright, leased, or acquired under another model will be decided by the World Bank. It’s still a long process ahead,” he added.

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