World Bank supports India’s green hydrogen and renewable energy development with $1.5bn

The World Bank last week (June 29) approved $1.5bn in financing to help India promote low-carbon energy by scaling up renewable energy, developing green hydrogen and stimulating climate finance for low-carbon energy investments.

Under a Low-Carbon Energy Development Policy Loan, the World Bank looks to support three themes of India’s Long-Term Low-Carbon Development Strategy, launched at COP27 last year (2022), including green hydrogen.

It comes as part of the first Low-Carbon Energy Programmatic Development Policy Operation – in a series of two envisaged operations.

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