News
29 August 2018
India's EESL to get $220m from IBRD for green projects
In:
Renewable energy
Region:
Asia-Pacific
The International Bank for Reconstruction and Development (IBRD) will provide $220 million in funding for energy-efficiency projects run by India's state-owned Energy Efficiency Services (EESL).
The move, which is expected to help India's efforts towards becoming a low-carbon economy, comes against the backdrop of the National Democratic Alliance government working on a strategy for achieving its climate change commitments, with measures ranging from combating air and water pollution to global engagement along with managing energy demand.
The lender will also provide a $80 million guarantee that will help cover re-payment risks and boost EESL's efforts to raise funds for its program.
