$135-million World Bank loan for India

WASHINGTON, JUNE 28. The World Bank today announced loans totalling $130 millions and a grant of five million dollars for eco-friendly energy development in India.

It is the second renewable energy project and includes a loan of $ 80 millions from the World Bank, a credit of $50 millions from its soft loan affiliate, the International Development Association, and a grant of $5 millions from the Global Environmental Facility which coordinates its activities through the bank.

The project supports Government initiatives to reduce power supply shortages and green-house gas emissions through environmentally sustainable investments in small-scale power generation by tapping the country's vast hydro resources, estimated at 10,000 MW of small hydro capacity, a World Bank press release said here.

Till date, about 500 MW have been commissioned, with another 500 MW underway, including the 125 MW capacity being financed by the bank through an ongoing project.

- PTI

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Section  : International
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