CAF approves $122 million for electric mobility

He Development Bank of Latin America (CAF) announced that it has approved $122 million to support electric mobility in Panama, Paraguay and Uruguay. These funds are part of the $231 million approved by the Green Climate Fund (GCF) in October 2022, the regional institution reported.

IN Panamaaccording to Secretary of Energy Jorge Rivera’s staffThe aforementioned economic support will serve to expand electric mobility, which was developed in accordance with the Electric Mobility Strategy, which is promoted by the Government through the National Secretariat for Energy (SNE).

Investments in CAF will mean supporting our country to include more electric vehicles, including public transport, buses and taxis with zero emissions and fast charging options, he explained in virtual mode SNE River staff in front of a regional audience that participated in the recent Summit on Electric and Sustainable Mobility in Latin America and the Caribbean; Success stories in 2023; in organization Electric mobility portal and which also brought together more than 20 speakers from the public and private sectors of the region.

As a part Electric Mobility and Low Carbon Transport Program (E-MOTION)CAF claims that the resources will “contribute to the provision of a financial offer that allows moving towards a better organized, efficient, fair, comfortable, safe, sustainable, resilient and affordable electric transport system in Panama, Paraguay and Uruguay”.

“Latin America and the Caribbean It has strong competitive advantages in promoting sustainable transport and, in particular, electric mobility. This funding reinforces the leadership of Panama, Paraguay and Uruguay in establishing public and private alliances to reduce emissions in the transport sector, one of the biggest contributors to global warming, and to become benchmarks for green growth, not only in the Americas, Latin America and the Caribbean , but also in the rest of the planet. Furthermore, this initiative is part of our strategy to become a green bank in the region,” said Sergio Díaz-Granados, CAF’s Executive President.

Share of renewable energy production in energy matrix of Panama is 81%, while in Paraguay it is 100%, and in Uruguay 98%.

By January 2023, 164 filling stations will be operating in the state, of which 23 are fast filling stations. In 2022, 160 100% electric cars were sold in Panama, double the 80 sold in 2021. Additionally, in just two months (January and February) 2023, 37 100% E cars were sold, surpassing the 21 sold in 2021. Currently , 100% E vehicles were sold in 324. It is worth mentioning that from 2015 to 2020 they sold only 47 vehicles with zero emissions. In relation to hybrid vehicles, 3,347 were sold until February of this year.

The foregoing corresponds to the promotion of regulations, the process of progressive replacement of vehicle fleets and market incentives through the National Electric Mobility Strategy approved by Law 295 of April 25, 2022 and whose regulations are official with Executive Decree no. 51 of February 15, 2023, promoted by SNE.