The government of Trinidad and Tobago has successfully applied to the Inter-American Development Bank (IDB) for a USD 60 million loan to help the Caribbean nation implement a more efficient, sustainable and clean energy matrix. While its application will be spread across the whole energy matrix, part of the funds will be applied to a series of tax and fiscal incentives for the importation and development of kits used for the conversion of vehicles to compressed natural gas (CNG). The government has previously issued policy statements that call for there to be only two fuels for the country’s transportation sector – single grade gasoline and CNG, and for the conversion of all public service vehicles to CNG.
(This article primarily compiled using information from an IDB press release)
