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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