Germany to Fund Energy Transition Projects in India

Current Context: Germany proposed to grant EUR 1 billion (INR 8440 Cr) for 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