The Asian Development Bank (ADB) has partnered with the Green Climate Fund (GCF) to launch the India Green Finance Facility (IGFF), supported by $200 million in concessional funding from GCF. The facility aims to unlock large-scale public and private investment in high-impact and emerging clean energy sectors in India, including technologies such as round-the-clock renewable energy, green hydrogen, compressed biogas, electric transport in rural areas, and decentralised renewable energy solutions.
The IGFF is ADB’s first collaboration with GCF in India. It will use blended finance to extend lines of credit to national development finance institutions (DFIs), which will be responsible for building and managing a pipeline of clean energy projects. A key component of the programme is a $65 million risk-sharing facility that will offer partial credit guarantees to support smaller developers in accessing affordable financing for compressed biogas projects, which typically face challenges securing funding from commercial lenders.