World Bank and India sign $100 million loan agreement for solar park development

The Government of India and the World Bank have signed a $100 million loan and grant agreement to develop solar park infrastructure in the country. The first component of the funding comprises a $75 million loan from the International Bank for Reconstruction and Development (part of the World Bank) with a five-year grace period and a maturity of 19 years, and a $23 million loan from the Clean Technology Fund (CTF) with a 10-year grace period and a maturity of 40 years. The second component of $2 million is an interest-free CTF grant.

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