ADB to Help Philippines Produce Battery-run Tricyles

The Asian Development Bank is ready to finance an initiative of the Philippine government to produce some 100,000 battery-run tricycles.

The bank has yet to finalize the amount of aid it will provide for the project, but its principal energy specialist, Sohail Hasnie, said it could be between $400 million and $500 million, the Manila Standard Today reports. Hasnie said ADB is still conducting feasibility studies.

Tricyles are a popular mode of transportation across the Philippines.

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About the author

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    Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.