BOP offers Loans: 10,000 eBikes and eRickshaws each This initiative featured the launch of an interest-free scheme in partnership with The BOP

BOP offers Interest Free Green Loans: 10,000 eBikes for Students and 10,000 eRickshaws in Punjab

LAHORE   (  Web News  )

The Government of Punjab, Transport Department,held a launch ceremony on January 09, 2024 to introduce exciting initiatives aimed at revolutionizing Transportation Sector. The event, held at Faletti’s Hotel Lahore, showcased the GoPb’s commitment to promote sustainable and eco-friendly modes of transportation.

This initiative featured the launch of an interest-free scheme in partnership with The Bank of Punjab (BOP), aimed to providing 10,000 e-Bikes to university students across Punjab. Besides, GoPbalso initiated the registration of retrofitted three-wheelers and issued inaugural license for eRickshaws. These aresignificant milestones in the transition towards sustainable transportation in Punjab.

This event was graced by Mr. Mohsin Raza Naqvi, Chief Minister of Punjab, who in no unequivocal terms expressed about the dedication of his Governmentin promoting e-Mobility for environmental benefits. Mr. Zafar Masud, President/CEO of BOP, and senior officials from the Bank, high-level government representatives, and delegates from various electronic vehicle manufacturers were also present at the occasion.

Mr Naqvistated that Lahore is one of the most polluted cities in the world and time has come where we all need to play our due part. He felt proud that BOP had taken the lead role in this initiative, and was delighted to launch 1st interest free e-Bikes Scheme for students as well as interest free financing of 10,000                         eRickshaws in Punjab. He announced that from now on, GoPb shall only purchase e-Bikes.The Honorable Chief Minister also added that 2,000 e-Bikes for Government Servants, 2,000 e-Bikes for Working Women and 2,000 e-Scooties for disabled persons shall also be provided through an interest free program soon.

Mr. Zafar Masud while speaking at the occasion, emphasized upon the core advantages this programshall have on promoting Economic Activity, Environmental Sustainability, Youth Empowerment, Green Financing, Financial Inclusion and Wider Demographic accessibility for the people of Punjab. He expressed his gratitude to the CM Punjab and underscored the significance of this partnership, contributing towards preservation of the environment.Mr. Masud also said that integrating environmental considerations into banking system would assist BOP in directing international financing frommultilaterals. He mentioned about an opportunitywhere an agreement with a foreign agency is being finalized to the tune of € 50 M to help support green-financing projects through BOP.