A €90 million (£77.4m)  loan has been agreed by the European Investment Bank (EIB) for the creation of two new zero emission bus lines in France.

The Syndicat Mixte des Transports en Commun de l’Agglomération Clermontoise (SMTC-AC) has secured the financing for the construction of the bus transit lines, with a fleet of 40 new clean vehicles using dedicated lanes.

The project includes the development of a new depot and maintenance centre as well as a sustainable energy generation and storage unit to meet the electricity needs of the two lines.

It will accelerate SMTC’s energy transition to alternative fuels and help reduce carbon emissions and traffic congestion.

EIB Vice President Ambroise Fayolle said: “This project is part of the European Union’s investment policy for carbon-free public transport at the heart of cities and regions. That is why I am very pleased to sign this new loan with Clermont Auvergne Métropole and SMTC, with which we already partnered in the past on the introduction of the tram.

“Financing new transport services contributing to the energy transition and the improvement of people’s daily lives is a priority for the EU climate bank.”