Goa to be 1st state to get World Bank climate fund
Notable because
Though annual RE capacity deployment in FY24 stood at 18.5 GW, most of it was concentrated in a few select states. In that context, the World Bank – along with the National Bank for Agriculture and Rural Development (NABARD), Small Industries Development Bank of India (SIDBI), and PFC – is planning to establish the first sub-national, climate-resilient green fund in Goa. This is a timely step to boost RE deployment at a sub-national level. Moreover, the fund’s focus on micro, small, and medium enterprises (MSMEs) will help reduce the cost of capital for smaller industries and increase RE accessibility.
What to look out for in the months ahead
What kind of projects will be financed through this fund? And how will the fund be structured?
Will other states take note and, in order to tap into concessional pools of capital, propose their sub-national climate funds?