Centre & WB sign $300 million loan

The Central government and the World Bank have signed 300 million dollar loan agreements for India Energy Efficiency Scale up Program. They signed 220 million dollar Loan Agreement and an 80 million Guarantee Agreement for the Efficiency Scale-Up Program.

The Program, to be implemented by the Energy Efficiency Services Limited (EESL), will help scale-up the deployment of energy saving measures in residential and public sectors, strengthen EESL’s institutional capacity, and enhance its access to commercial financing.

The Agreement was signed by Joint Secretary in the Ministry of Finance, Sameer Kumar Khare on behalf of Government of India and Acting Country Director World Bank India, Hisham Abdo in New Delhi yesterday.

Speaking on the occasion, Mr. Khare said that the Program will help tackle the financing, awareness, technical and capacity barriers faced by new energy efficiency programs and support the UJALA program of the Government.

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