Home » EIB commits 150 mn euro funding for clean energy projects

EIB commits 150 mn euro funding for clean energy projects

EIB commits 150 mn euro funding for clean energy projects
Shares

European Investment Bank (EIB) agreed to support renewable energy projects in India by committing a 20-year 150-million euro loan facility to the Exim Bank.

Exim Bank would use the fund under the facility to lend for energy projects, notably wind, solar photovoltaic, concentrated solar power, hydro-power, geothermal, biomass and efficient co-generation.

These projects contribute to climate change mitigation, Exim bank said in a statement. This is the second credit line extended by the EIB to Exim Bank.

The EIB, owned by the member-states of the European Union, is a major long-term lending institution with annual loan approvals exceeding $80 billion.

Exim Bank has been raising foreign currency resources from the international markets, which constituted around 51 per cent of its borrowings as on March, 2013.

Leave a Reply