GoI signs $250 Mn loan with ADB to expand energy efficiency investments

The Government of India and the Asian Development Bank (ADB) have signed a $250 million loan for Energy Efficiency Services Limited (EESL).
The loan aims to expand energy efficiency investments in India that will benefit agricultural, residential and institutional consumers. Additionally, $46 million financing will be provided from the Clean Technology Fund (CTF), to be administered by ADB.
The project is expected to contribute to the mission of Government of India to promote energy efficiency and meet Government’s commitments to reduce energy intensity of the economy.
Introduction of energy-efficient technologies in eligible states including smart meters, distributed solar photovoltaic systems and electric vehicles will help reduce electricity network losses and reduce greenhouse gas emissions.
Masatsugu Asakawa appointed as President of Asian Development Bank (ADB).He will assume office as ADB’s 10th president on Jan. 17, 2020.He will succeed Takehiko Nakao, who will leave office on Jan. 16, 2020.