World Bank plans $100-mn assure scheme for photo voltaic rooftop initiatives

The World Bank plans to introduce a $100-million credit score assure scheme to spice up India’s rooftop photo voltaic programme, which has not gained sufficient traction. The scheme will enable micro, small, and medium enterprises (MSMEs) to avail concessional debt financing for organising rooftop photo voltaic items.

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The World Bank scheme, together with the State Bank of India (SBI) and the MSME ministry to speed up the adoption of rooftop photo voltaic items, will assist MSMEs entry credit score of round $1 billion. The association will probably be helpful for the companies that always don’t meet the lending standards of banks and different monetary establishments, with their monetary woes been exacerbated by the covid-19 pandemic.

Important takeaways for all aggressive exams:

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

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