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Germany to Fund Energy Transition Projects in India

Published on December 03, 2022
Current Context: Germany proposed to grant EUR 1 billion (INR 8440 Cr) for energy transition projects in India.
Germany to Fund Energy Transition Projects in India
  • The announcement of EUR 1 billion funding was announced by Germany ahead of its Foreign Minister, Annalena Baerbock’s visit to India.
  • The objective of this proposed funding by Germany is to assist India in green and sustainable development.
  • The fund will help India‘s initiatives in the areas of:
  1. Renewable Energy
  2. Sustainable Urban Development
  3. Optimal Usage of Resources
  • The funding consists of:
  1. Grants (10%)
  2. Line of Credit (90%)
  • The Line of Credit will be provided at a cheap interest rate ranging from 2.70%-3.20% by KfW Development Bank.

Question:

Q.1 Recently ________ proposed to grant EUR 1 billion (INR 8440 Cr) for energy transition projects in India.
a. France
b. Netherlands
c. Japan
d. Germany

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