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According to the latest update, India’s government and the _____________ are in talks to introduce a risk-sharing mechanism to compensate banks giving loans for electric vehicle purchases, as the country seeks to decarbonize the transport sector.
New Development Bank
International Renewable Energy Agency
Asian Development Bank
World Bank
International Finance Corporation
- India is exploring ways to decarbonize its transport sector.
- Talks are underway with a prominent financial institution for a risk-sharing mechanism.
- This plan aims to compensate banks for giving loans for electric vehicle purchases.
Option 1: New Development Bank
- Focuses mainly on funding infrastructure and sustainable development projects in BRICS countries.
Option 2: International Renewable Energy Agency
- Specializes in promoting renewable energy technologies.
Option 3: Asian Development Bank
- Offers support for development projects in Asia and the Pacific.
Option 4: World Bank
- Engages in global developmental projects and has experience in supporting climate change mitigation strategies.
Option 5: International Finance Corporation
- Focuses on private sector development in developing countries.
Correct Answer
- The World Bank is involved in discussions with the Indian government to establish a mechanism for promoting EV loans.
By: Parvesh Mehta ProfileResourcesReport error
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