Countries participating in the Climate Investment Funds have approved $1.08 billion worth of loans and grants to support climate change mitigation and adaptation efforts in India and seven other nations.
India is set to receive $775 million for the pilot implementation of its Super-Efficient Equipment Program Initiative, which seeks to monetize energy savings to encourage consumers to use high energy efficiency fans. The initiative also aims to help lower the cost of financing and facilitating solar energy knowledge transfer.
The following were also approved by CIF countries during their meeting last week:
$86 million for two multipurpose water resources projects in Bolivia. A portion of the money will also be used to strengthen climate change resilience in the Rio Grande Basin.
$25 million for the improvement of Jamaica’s national risk information platform and data collection and management systems. A climate risk awareness campaign will also be financed.
$30 million to support Honduras’ efforts to scale up renewable energy distribution in grid-connected areas and provide off-grid renewable energy solutions in the country’s rural areas.
$40 million to increase electricity access in rural Nepal communities.
$30 million to address deforestation and forest degradation issues in Laos.
$40 million for the expansion of solar and biofuel technologies in Mali.
$60 million for the development of sustainable forest landscapes in Mexico, among other features.
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