The World Bank’s Board of Executive Directors yesterday approved $1.5 billion in financing to accelerate India’s development of low-carbon energy. The financing will help India promote low-carbon energy by scaling up renewable energy, developing green hydrogen, and stimulating climate finance for low-carbon energy investments.
In a tweet from the official twitter account of World Bank India it is stated that, “India aims for net-zero emissions by 2070. To support India’s Low Carbon transition, World Bank has approved $1.5 Billion to scale up Renewable Energy, promote Green Hydrogen & Green Bonds.”
World Bank’s Vice President for the South Asia Region, Martin Raiser tweeted, “Very proud of a new $1.5 billion operation, approved today, that will provide transformational support to energy transition in India by helping scale up renewable energy, develop green hydrogen, and mobilize private sector financing for low-carbon energy.”
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