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Goa & World Bank Partners to Launch Blended Finance Facility for Climate Resilience

Published on February 24, 2024
Current Context: The Government of Goa has partnered with the World Bank to establish a pioneering Blended Finance facility aimed at bolstering climate resilience.
Goa & World Bank Partners to Launch Blended Finance Facility for Climate Resilience
  • This initiative was announced on February 20, 2024, by Chief Minister Dr. Pramod Sawant.
  • This will be the first-of-its-kind, climate-focused, multi-sectoral facility at a subnational level that will enable Goa to access and mobilize concessional finance to implement low-carbon and climate-resilient investments.
  • The facility includes public, private, international, and domestic climate finance.
  • The key areas that will benefit from blended finance investments include e-mobility and related infrastructure, renewable energy, biodiversity conservation, coastal protection, and green tourism.
  • This facility will help Goa and other coastal states in India build greater resilience to the impacts of a rapidly warming climate.
  • The Chief Minister stated that this Blended Finance Facility will enable Goa to embed and operationalize greater resilience in their planning, investments, and infrastructure.
  • He also mentioned that Goa will become the first State to receive funds under the Blended Finance Facility from the World Bank.

Question:

Q.1 Who announced the establishment of the Blended Finance facility in Goa?
a. Prime Minister of India
b. President of the World Bank
c. Chief Minister Dr. Pramod Sawant
d. Governor of Goa
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