World Bank Approves $1.5 Billion for India's Low-Carbon Energy Development
| Aspect | Details |
|---|---|
| Funding Approved | $1.5 billion |
| Purpose | Accelerate low-carbon energy development in India |
| Key Focus Areas | Green hydrogen, renewable energy, low-carbon investments |
| Expected Outcomes | - 450,000 metric tons of green hydrogen annually from FY25/26 |
| - 1,500 MW of electrolyzers annually from FY25/26 | |
| - Increase renewable energy capacity | |
| - Reduce emissions by 50 million tons per year | |
| Financing Sources | - $1.46 billion loan from IBRD |
| - $31.5 million credit from IDA | |
| Alignment | National Green Hydrogen Mission, India's NDC targets, World Bank's H4D Partnership |
| Previous Operation | $1.5 billion First Low-Carbon Energy Programmatic Development Policy Operation (June 2023) |
| Reforms Supported | - Green hydrogen production and electrolyzers |
| - Renewable energy penetration (e.g., battery storage, grid code amendments) | |
| - Development of national carbon credit market | |
| World Bank Country Director for India | Auguste Tano Kouame |
| World Bank Headquarters | Washington, D.C., United States |
| World Bank Founded | July 1944, Bretton Woods, New Hampshire, United States |
| World Bank CFO | Anshula Kant |
| World Bank President | Ajay Banga |