SBI sign US $625 mn agreement with World Bank for solar power
State Bank of India (SBI) and the World Bank have inked agreements for a $625 million (around Rs 4,200 crore) facility to support grid-connected rooftop solar programme (GRPV) in the country. With the help of this initiative, at least 400 megawatt (Mw) solar capacity will be created across the country. This agreement will also help SBI in financing GRPV projects at competitive rates and will also catalyse the market and support the government to faster achieve its target to generate 40 gigawatt (Gw) of electricity from the widespread installation of rooftop solar photo-voltaic panels.
The agreements were signed by Karnam Sekar, deputy managing director, SBI and Onno Ruhl, Country Director, World Bank India. The programme also aims at improving the investment climate for solar PV, and increase the ‘ease of doing rooftop business’ through technical assistance to strengthen the capacity of key institutions, and support development of the overall solar rooftop PV market.
So let's discuss some questions related to this post :
1. Name the bank which has signed the agreement with World Bank for US dollar 625 solar power project?
2. Who is the Country Director of World Bank to India?