World Bank approves more $1.5 billion in financing to boost India

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World Bank approves more $1.5 billion in financing to boost India

//business-finance.news-articles.net/content/202 .. ore-1-5-billion-in-financing-to-boost-india.html

Published in Business and Finance on Thursday, June 19th 2025 at 15:00 GMT by RepublicWorld

To have decoupling of economic growth from emissions growth will require scaling up renewable energy.

The World Bank has approved over $1.5 billion in financing to support India's efforts in promoting a shift to cleaner fuels, specifically focusing on low-carbon energy. This financial boost aims to help India meet its ambitious target of achieving net-zero emissions by 2070. The funding will be utilized to enhance the adoption of electric vehicles (EVs) and to expand the production and distribution of green hydrogen. This initiative is part of a broader strategy to reduce the country's reliance on fossil fuels and to foster sustainable development. The project is expected to significantly contribute to reducing air pollution and greenhouse gas emissions in India.

Read the Full RepublicWorld Article at:
[ https://www.republicworld.com/economy/world-bank-approves-more-15-billion-in-financing-to-boost-india-s-alternative-fuel-objective ]

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