New Delhi: The World Bank on Thursday committed more than $1 billion (approximately Rs 6,750 crore) to support the Modi government’s pet solar energy programme.
“As part of our $1 billion solar commitment to India, today we signed an agreement with the government of India for a $625-million grid-connected rooftop solar programme. The project will finance the installation of at least 40 megawatts of solar photovoltaic installations,” said World Bank Group president Jim Yong Kim.
Stating that India under Prime Minister Narendra Modi’s leadership has been fantastic, Dr Kim called himself a “big fan” of Mr Modi who, like great leaders, sets ambitious targets and deadlines.
Dr Kim, said the money would be invested in projects that include solar rooftop technology, infrastructure for solar parks, bringing innovative solar and hybrid technologies to market and transmission lines for solar-rich states.
Results of Mr Modi’s endeavours have started to show, as evident from the World Bank’s ease of doing business report, Dr Kim said.
“We just released an Index of Logistics on how easy are logistics in any country and found from 2014 to 2016 India’s rank went from 54th place to 35th place. Logistics in India is better than Portugal,” he said.
Dr Kim said one can always find things that are not going as quickly as even Mr Modi would like to. “These accomplishments are real. India under the leadership of Prime Minister Modi has been fantastic but that challenges us to be better,” he said.
During his meeting with Mr Modi, Dr Kim promised proactive and full support of World Bank for his agenda including smart cities, Ganga rejuvenation, skill development, Swachh Bharat and power for all.
