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ADB, India sign USD 250 million loan to expand energy efficiency investments in India

ADB, India sign USD 250 million loan to expand energy efficiency investments in India
ADB, India sign USD 250 million loan to expand energy efficiency investments in India

ADB, India sign USD 250 million loan to expand energy efficiency investments in India

The Asian Development Bank (ADB) and the Government of India on 16th December 2019 signed a $250 million loan to Energy Efficiency Services Limited (EESL) to expand energy efficiency investments in India that will benefit agricultural, residential and institutional consumers. In addition, $46 million financing will be provided from the Clean Technology Fund (CTF), to be administered by ADB.


The MoU Signed by:

The signatories to the loan agreement were Sameer Kumar Khare, Additional Secretary (Fund Bank and ADB), Department of Economic Affairs in India’s Ministry of Finance, and Kenichi Yokoyama, Country Director of ADB’s India Resident Mission, signed the agreement for EESL.

Benefits: 

Khare said after the loan signing that the project is expected to contribute to the mission of the Government of India to promote energy efficiency and meet the Government's commitments to reduce energy intensity of the economy. Further elaborating on the issue, he said, introduction of energy-efficient technologies in eligible states including smart meters, distributed solar photovoltaic systems and electric vehicles will help reduce electricity network losses and reduce greenhouse gas emissions.


Accompanying the loan will be a technical assistance (TA) of $2 million to support EESL in implementing the project, including a gender action plan, mobilising private sector participation in energy efficiency services, identifying new business opportunities, and transferring knowledge about successful models.

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