USAID & DFC jointly announce $41 million financing for renewable energy in India

Current GK ( Master) International Affairs

The United States Agency for International Development (USAID) and the US International Development Finance Corporation (DFC) have announced a USD 41 million-loan guarantee program to finance investment in renewable energy solutions by Indian SMEs.
The USD 41 million loan portfolio guarantee program by USAID and DFC will enable finance investments by Indian small and medium enterprises (SMEs) in renewable energy solutions, including rooftop solar installations. These loans will enable SMEs to access reliable power and cut costs.
The investments in solar solutions, secured by these credit guarantees, will improve access to clean, steady, and affordable energy as well as further progress towards India’s clean energy transition and climate change mitigation.