Funding for green projects is hard to come by in India, so the UK's British International Investment has come up with a solution: a $75 million "green bond."
The bond, arranged by Symbiotics Investments, will provide loans to banks in India to support the country's energy transition, including renewable energy, clean transportation, green buildings, agriculture, and forestry, reports the Guardian.
"This latest funding will support green projects that span renewable energy, energy efficiency, clean transportation, green buildings, agriculture, and forestry," says BII's Samir Abhyankar.
"We hope that this second green basket bond will have a catalytic effect on the mobilisation of capital for similar projects that play a key role in successfully tackling climate change effectiveness," adds BII's Yvan Renaud.
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