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2010-09-17

Tripartite deal signed promoting energy efficiency in MSME

With an aim to promote and finance energy efficiency projects and programs in the micro, small and medium units, the Ministry of Finance, World Bank and Small Industries Development Bank of India (Sid

With an aim to promote and finance energy efficiency projects and programs in the micro, small and medium units, the Ministry of Finance, World Bank and Small Industries Development Bank of India (Sidbi) has signed a tripartite agreement.

The project is proposed to be implemented through Global Environment Facility (GEF) Grant of US $ 11.3 million, said an official statement issued by the Ministry of Finance. The project is expected to be completed by December 31, 2014.

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

Adding further, the release said, “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) and Part D: Project Management.

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