World Bank approves USD 625 m for Indian solar programme

Q.  World Bank has approved USD 625 million for India’s grid connected rooftop solar program and a front from CIF. What does CIF stand for?
- Published on 17 May 16

a. Clean Technology Investment Fund
b. Climate Investment Fund
c. Climate International Fund
d. None of the above

ANSWER: Climate Investment Fund
 
World Bank has approved USD 625 million aid for India’s solar programme. The WB’s Board has approved USD 625 million loan to support India’s grid connected rooftop solar programme to generate clean energy.
  • Board also approved a co-financing loan of USD 120 million in concessional terms and a USD 5 million grant from the Climate Investment Funds Clean Technology Fund.
  • Project will finance installation of 400 MW of grid connected rooftop solar photovoltaic GRPV across the nation
  • Solar OV installations will provide clean, renewable energy and reduce GHG emissions by displacing thermal generation.
  • Project will also strengthen the capacity of key institutions and support development of the overall solar PV market.

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