The World Bank has announced to give $ 1 billion to support India’s ambitious solar generation programme.
By Belal Khan
The commitment includes an agreement for a $ 625 million grid-connected rooftop solar programme for financing the installation of at least 40 megawatts of solar photovoltaic installations.
President of the World Bank, Dr. Jim Yong Kim, who was on a two-day visit to India met Prime Minister, Narendra Modi on Thursday.
During the meeting, the Prime Minister expressed happiness at the World Bank’s continued support to India, especially in priority areas like Smart Cities, Ganga Rejuvenation, Skill Development, Swachh Bharat and Power for All.
Dr. Kim was impressed by the progress made towards the ambitious targets in these programmes.
The Prime Minister emphasized the importance of adequate climate change financing for countries like India which are consciously choosing to follow an environmentally sustainable path. Dr. Kim assured the Prime Minister that the World Bank would be proactive and fully support this agenda.
“We are doing all we can to support Prime Minister Modi’s personal commitment to renewable energy, especially in scaling up solar energy,” Dr. Kim said at a media briefing.
“India’s plans to virtually triple the share of renewable energy by 2030 will both transform the country’s energy supply and have far-reaching global implications in the fight against climate change,” he added.
