Home   »   World Bank plans $100-mn guarantee scheme...

World Bank plans $100-mn guarantee scheme for solar rooftop projects

World Bank plans $100-mn guarantee scheme for solar rooftop projects_40.1

The World Bank plans to introduce a $100-million credit guarantee scheme to boost India’s rooftop solar programme, which has not gained enough traction. The scheme will allow micro, small, and medium enterprises (MSMEs) to avail concessional debt financing for setting up rooftop solar units.

Buy Prime Test Series for all Banking, SSC, Insurance & other exams

The World Bank scheme, along with the State Bank of India (SBI) and the MSME ministry to accelerate the adoption of rooftop solar units, will help MSMEs access credit of around $1 billion. The arrangement will be beneficial for the firms that often do not meet the lending criteria of banks and other financial institutions, with their financial woes been exacerbated by the covid-19 pandemic.

Important takeaways for all competitive exams:

  • World Bank Headquarters: Washington, D.C., United States.
  • World Bank Formation: July 1944.
  • World Bank President: David Malpass.

Find More Banking News Here

World Bank plans $100-mn guarantee scheme for solar rooftop projects_50.1

World Bank plans $100-mn guarantee scheme for solar rooftop projects_60.1

Leave a comment

Your email address will not be published. Required fields are marked *