Logo of Phnom Penh Post newspaper Phnom Penh Post - Bank offering discounted loans for green E-bikes



Bank offering discounted loans for green E-bikes

Yann Vaudin has convinced Acleda to offer loans with discounted interest rates to buy his E-bikes. George Nickels
Yann Vaudin has convinced Acleda to offer loans with discounted interest rates to buy his E-bikes. George Nickels

Bank offering discounted loans for green E-bikes

In a first for Acleda Bank – if not Cambodia – Green E-bike, the company that rents out eco-friendly electric and pedal-powered bicycles in Siem Reap, has just partnered up with the institution to offer reduced-interest rate loans on the vehicles in the hope of promoting a more environmentally friendly approach to transport.

The company was founded by Yann Vaudin in 2014, a year after he first came to the Kingdom on holiday.

“When I visited the temples by normal bike, it was really exhausting and dangerous for people: hot and far!” he recalled.

He was inspired by the visit, and the green bikes he rents out to tourists are becoming more common on Siem Reap’s streets. Now he’s hoping to reach a much wider audience than temple-touring travellers and, in the process, promote a message of environmental awareness.

Three months ago, he wrote to Acleda Bank with his idea for reducing the interest for loans on E-bikes and, he said, they jumped on board immediately. “It is a victory for me . . . and a first in Cambodia,” said Vaudin.

So Phonnary, Acleda’s executive vice president and group chief operations officer, said: “This is the first time that we have created a loan like this . . . we have to start to protect the environment, so when he wrote to us, we agreed that it was a good idea and sent him the offer letter.”

“It also helps to meet our customers’ expectations, who are thinking more about the environment.”

Made in China, but designed to European specifications, Vaudin says the green bikes are power-assisted by rechargeable lead acid or lithium batteries, with motors that can run at 500 to 1,200 watts. According to Vaudin, it costs as little as $2 per month to power them, which is done by removing the battery and plugging it into a socket. A full battery has a range of up to 65km.

Vaudin also hopes that hotels and tour operators will jump on the back of his green bike plan. “They can make a profit, and market themselves as green,” he said.

MOST VIEWED

  • Hong Kong firm done buying Coke Cambodia

    Swire Coca-Cola Ltd, a wholly-owned subsidiary of Hong Kong-listed Swire Pacific Ltd, on November 25 announced that it had completed the acquisition of The Coca-Cola Co’s bottling business in Cambodia, as part of its ambitions to expand into the Southeast Asian market. Swire Coca-Cola affirmed

  • Moody’s sets outlook rating to ‘negative’ for Cambodia

    US global rating agency Moody’s Investors Service Inc on November 15 announced that it downgraded Cambodia’s outlook from “stable” to “negative” and maintained its B2 local and foreign currency issuer ratings. “The negative outlook reflects a deteriorating external position as illustrated by the severe

  • Korean first lady paves way for ill boy’s surgery

    A 14-year-old boy with congenital heart disease who was lucky enough to meet with South Korean first lady Kim Keon-hee may get the chance of a lifetime and receive surgery and treatment at Asan Medical Center in Seoul, South Korea. After seeing his plight, many

  • Hun Sen’s Covid infection caused by ‘weakened antibody’ after summit

    Prime Minister Hun Sen said exhaustion from heavy workload before and during the recent ASEAN Summit may have led to him contracting Covid-19 due to his weakened immune system, while rejecting speculations that the infection was caused by leaders of some countries who did not

  • NagaWorld union leader arrested at airport after Australia trip

    Chhim Sithar, head of the Labour Rights Supported Union of Khmer Employees at NagaWorld integrated casino resort, was arrested on November 26 at Phnom Penh International Airport and placed in pre-trial detention after returning from a 12-day trip to Australia. Phnom Penh Municipal Court Investigating Judge

  • Kingdom’s rice crowned world’s No1

    Cambodia’s Phka Rumduol jasmine variety has been crowned the World’s Best Rice for the fifth time at the TRT (The Rice Trader) World Rice Conference in Phuket, Thailand on November 17, according to leaders of the Kingdom’s apex rice industry body. Phka Rumduol