IBRD grant signed

The government has secured a US$5.19 million grant from the World Bank’s #International Bank for Reconstruction and Development (IBRD) for its energy efficiency programme for the macro, small and medium enterprises (MSME).

Signed on December 13, 2016, the Global Environment Facility (GFE) grant is an “Additional Financing for Financing Energy Efficiency at MSMEs Project- Programmatic Framework for Energy Efficiency”.

The parent project – India: #Financing Energy Efficiency at MSME Project (FEEMP) became effective on September 29, 2010 with an original GEF Grant amount of US$11.3 million.

The project’s development objective is to increase demand for energy efficiency investments in selected MSME clusters and to build their capacity to access commercial finance.

The project will focus on tapping Energy Efficiency benefits through a three-pronged approach which includes:
(i) Awareness/capacity building;
(ii) Direct intervention to increase EE investments at MSME level, facilitating active involvement of service providers and Financial Institutions; and
(iii) (iii) Expanding the EE knowledge base to scale up and replicate the project initiatives, especially through establishing key performance indicators.

The grant was signed by Raj Kumar, Joint Secretary (MI), #Department of Economic Affairs on behalf of the Government, and Junaid Ali Ahmad, Country Director, World Bank (India) on behalf of IBRD, acting as an Implementing Agency. fii-news.com