Tripartite pact signed for financing energy efficiency project

NEW DELHI - A tripartite agreement was signed today between Ministry of Finance, World Bank and Small Industries Development Bank of India (SIDBI) for financing Energy Efficiency Project for micro, small and medium enterprises. The project is proposed to be implemented through Global Environment Facility (GEF) Grant of 11.3 million dollars.

The Grant Agreement was signed by Dr. Anup K. Pujari, Joint Secretary (MI), Department of Economic Affairs on behalf of Government of India. N. K. Maini Deputy General Manager, signed the Grant Agreement on behalf of SIDBI. Roberto N. Zagha, Country Director (India) signed the Agreements on behalf of the World Bank.

The objective of the Project is to increase demand for energy efficiency investments in target micro, small and medium enterprise clusters and to build their capacity to access commercial finance

The project consists of following parts:

Part A: Capacity and Awareness Building

Part B: Increasing Energy Efficiency Investments (SIDBI)

Part C: Knowledge Management and Sharing (BEE)

Part D: Project Management

The project is expected to be completed by December 31, 2014. (ANI)