International Solar Alliance and World Bank sign declaration to promote Solar Energy
Q. Which of the following are areas of working jointly between International Solar Alliance and World Bank?
1) Roadmap to mobilize financing
2) Technical assistance
3) Supporting RE-INVEST events- Published on 01 Jul 16a. 1, 3
b. 1, 2
c. 2, 3
d. All of the above
ANSWER: All of the above
The Joint Declaration by the International Solar Alliance cell and the World Bank will help in accelerating mobilization of finance for solar energy, and the Bank will have a major role in mobilizing more than US $1000 billion in investments that will be needed by 2030, to meet ISA’s goals for the massive deployment of affordable solar energy. Major areas identified for working jointly include:
- Developing a roadmap to mobilize financing
- Developing financing instruments including credit enhancement, reduce hedging costs/currency risk, bond raising in locally denominated currencies etc. which support solar energy development and deployment
- Supporting ISA’s plans for solar energy through technical assistance and knowledge transfer;
- Working on mobilization of concessional financing through existing or, if needed, new trust funds
- Supporting RE-INVEST events. In addition, both sides decided to work in other areas and themes as jointly decided.
