World Bank grants $5.19mn for Energy financing to MsEs.....!
Grant will be provided through World Bank's International Bank for Recontruction and Development (IBRD) arm. World Bank provide an additional USD 5.19 million grant to MSME industries in the country to help them adopt efficient energy means.An agreement for Global Environment Facility (GEF) Grant of USD5.19 Million for 'Additional Financing for Financing Energy Efficieny at MsMes Project programatic Framework for Energy Efficiency was signed here today, said an official release.
IBRD, acting as an implementing agency of the Global Environment facility, provide's loan and other assistence primarly to middle income contries.
"The Development
Objective of the project was to increase demand for Energy efficiency
investments in select micro, small and medium enterprise clusters and to
build their capacity to access commercial finance," said the release.
The proposed Additional Financing (AF) would be used to help further
scale up the initiatives taken up under the parent project, Finance
Ministry said.
It will also contribute to bridge the current gap in understanding
between different stakeholders, mainly Energy professionals/technology
suppliers, entrepreneurs, banks and financial institutions..
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