Early Warning System

Countries

India

Geographic location where the impacts of the investment may be experienced.

Specific Location

Haryana

Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.

Financial Institutions

Asian Development Bank (ADB)

International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.

Project Status

Proposed

Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.

Bank Risk Rating

Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."

Voting Date

Aug 1, 2024

Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.

Borrower

JBM Ecolife Mobility Haryana Private Limited and JBM Ecolife Mobility Private Limited

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

Sectors

Transport

The service or industry focus of the investment. A project can have several sectors.

Investment Type(s)

Loan

The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.

Investment Amount (USD)

Not Disclosed

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.

Bank Documents

Other Related Projects

AIIB-000879 India: Electric Bus Financing Project

Primary Source

Original disclosure @ ADB website

Updated in EWS Aug 18, 2024

Disclosed by Bank Jul 5, 2024

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Can you contribute information about this project?
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Project Description

If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank’s "Draft Resettlement Framework", the Asian Development Bank (ADB) is proposing to finance the JBM Electric Bus Financing Project with two (2) Special Purpose Vehicles (SPV) namely JBM Ecolife Mobility Haryana Private Limited and JBM Ecolife Mobility Private Limited. The SPVs are formed to implement a Gross Cost Contract (GCC) concession with the Haryana and Odisha State Transport Undertaking (STU) respectively to supply, operate and maintain 450 electric buses and charging infrastructure in the State of Haryana and 200 electric buses and charging infrastructure in the State of Odisha for the tenure of the concession. The two (2) SPVs or the borrowers are wholly owned by JBM Ecolife Mobility Private Limited which in turn is an 83% subsidiary of JBM Auto Limited (the Sponsor). The STUs of the two states shall execute GCC agreement with the Borrowers. Under the GCCAgreement, the Borrowers or the Operators would be paid a fixed annual fee per km and the buses would be operated Intracity in the State of Odisha and short route Intercity in the State of Haryana. The Concession period is mentioned as 12 years from commissioning for the State of Haryana and 10 years from the commissioning for the State of Odisha. ADB will provide ordinary capital resources senior secured loan which will be used by the borrowers to finance the Project.

Early Warning System Project Analysis

For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

Environment: B. The potential environmental impacts from the use of ADB loan proceeds, particularly on the operation and maintenance of the electric buses, are related to hazardous waste generation from e-bus parts for replacement, wastewater from cleaning and maintenance, and occupational and community health and safety. No part of the proceeds will be used for any construction activities at the existing depots except for minor civil works for the installation of charging infrastructure and construction of new depots that are likely to cause no significant adverse potential environmental impacts. Three out of the nine depot locations are known and have been subjected to due diligence but yet to be formally allocated and turned over to the projects.

Involuntary Resettlement: B. The project will be allocated nine depots by the State Transport Undertakings (STU) of Haryana. Three are known, screened, and audited: Panchkula is a vacant government lot beside an existing operational depot, Jagadhri is an existing and operating bus terminal being renovated to become a bus depot, and Panipat is an operation depot with the terminal already transferred to a new location to make way for the project. Based on the audit, the three known sites are free from any involuntary resettlement impacts; however, there are six remaining depots that are yet to be screened and audited.

Indigenous Peoples: C. The project is not foreseen to have impacts as bus operations and depots are in urban areas. The state of Haryana does not have notified Fifth Schedule Areas per the Indian government.

Investment Description

Here you can find a list of individual development financial institutions that finance the project.

Asian Development Bank (ADB)

According to the Bank’s "Draft Resettlement Framework", ADB will provide ordinary capital resources senior secured loan which will be used by the borrowers to finance the Project.

Private Actors Description

A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

JBM Group has a diversified portfolio in the field of automotive, buses & electric vehicles, EV charging Infra, and renewables, with an infrastructure of 60 manufacturing facilities,10 + Power Plants at 37 Global Locations, and 5 engineering & design Centre currently exporting to more than 25 countries.

Private Actor 1	Private Actor 1 Role	Private Actor 1 Sector	Relation	Private Actor 2	Private Actor 2 Role	Private Actor 2 Sector
-	-	-	-	JBM Ecolife Mobility Haryana Private Limited	Client	-

Contact Information

This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

No contacts available at the time of disclosure.

ACCESS TO INFORMATION

You can submit an information request for project information at: https://www.adb.org/forms/request-information-form

ADB has a two-stage appeals process for requesters who believe that ADB has denied their request for information in violation of its Access to Information Policy. You can learn more about filing an appeal at: https://www.adb.org/site/disclosure/appeals

ACCOUNTABILITY MECHANISM OF ADB

The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main.