India Infrastructure Finance Company Limited (IIFCL) will lend the cash to private companies for investments in renewable energy, energy efficiency and other projects that help cut greenhouse gas emissions in the country.
The EIB will ensure the projects are economically and financially viable and in compliance with its social and environmental standards.
It said: “The Framework Loan will support the EU-India Strategic Partnership in the area of climate change, fostering the development of renewable energy and the efficient use of energy. It will also contribute to meeting energy demand and thus encourage economic growth and development in India.”
Earlier this week a major UN report warned the world is “ill-prepared” to tackle the potential risks of climate change.
Started in year 2010, ‘Climate Himalaya’ initiative has been working on Mountains and Climate linked issues in the Himalayan region of South Asia. In the last five years this knowledge sharing portal has become one of the important references for the governments, research institutions, civil society groups and international agencies, those have work and interest in the Himalayas. The Climate Himalaya team innovates on knowledge sharing, capacity building and climatic adaptation aspects in its focus countries like Bhutan, India, Nepal and Pakistan. Climate Himalaya’s thematic areas of work are mountain ecosystem, water, forest and livelihood. Read>>