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€500 million in EU's first phase funding for India green energy
Mint Mumbai
|July 18, 2023
European Investment Bank (EIB), the lending arm of the European Union, plans to invest about €1 billion in India's renewable energy sector, EIB's vice president Kris Peeter confirmed.
EIB is in discussion with the Central government to lend €500 million during the first phase of the funding, he said.
The investmentwill be made in renewable sectors involving green hydrogen and solar panels. India is the largest investment destination of EIB outside Europe. "What India does for climate is not only important for India but also for the rest of the world," Peeters said. "There are a lot of important projects in India (that can be funded) from our perspective. We are also a climate bank and a bank with a huge experience in infrastructure," he added.
This story is from the July 18, 2023 edition of Mint Mumbai.
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