The Asian Development Bank (ADB) has given its approval for a $250 million policy-based loan aimed at enhancing the financial sustainability of India’s power sector and promoting the transition towards renewable energy. This policy-based loan will support India’s efforts to meet its climate change mitigation targets and remove obstacles in the expansion of commercial finance for clean energy. In addition, ADB has collaborated with the Japan International Cooperation Agency (JICA) to launch a new infrastructure fund worth $1.5 billion in Asia-Pacific.
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