EESL receives $434 million funding from Global Environment Facility

Energy Efficiency Services Limited (EESL) has entered into a partnership with the Global Environmental Facility (GEF) to receive funding of $454 million for the Creating and Sustaining Markets for Energy Efficiency project. The funding, which comprises a GEF grant of $20 million and co-financing of $434 million in the form of loans and equity, will be utilised towards EESL’s programmes such as those for street lighting, domestic lighting and agricultural pumps. The funding received by EESL also includes a loan sanction of $200 million from the Asian Development Bank and another $20 million from Germany’s KfW. EESL will also raise $200 million through its various initiatives.