World Bank to help India-led solar alliance mobilize $1 trillion – Feedback

In a significant push for solar power, the World Bank on Thursday signed an agreement with the International Solar Alliance (ISA)—launched by Prime Minister Narendra Modi at the Paris climate summit last year—to mobilize $1 trillion in investments by 2030.

The World Bank will also lend more than $1 billion to support India’s ambitious initiatives to expand solar energy generation, including a $625 million grid-connected rooftop solar programme. “We signed an agreement with the ISA, consisting of 121 countries led by India, to collaborate on increasing solar energy use around the world, with the goal of mobilizing $1 trillion in investments by 2030. This agreement establishes the World Bank group as a financial partner for the alliance,” World Bank president Jim Yong Kim said at the end of a two-day visit to India.

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