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ADB and EESL inks US 13 million loan pact to promote efficient energy usage in India
ADB and EESL inks loan pact to promote efficient energy usage in India: Details, Aim, Highlights
Asian Development Bank (ADB) and Energy Efficiency Services Limited (EESL) have inked a loan pact to provide US $13 Million loan to promote efficient energy usage in India.
It will be provided by Global Environment Facility (GEF) as part of US $200 million ADB-financed Demand-Side Energy Efficiency Sector Project.
At present, ADB funding is helping EESL finance energy service utilities for installing established energy-efficient technologies such as light-emitting diode (LED) street-lights with municipalities while exploring newer technologies and their self-sustaining business models.
The additional financing for the project through GEF grant will be used by EESL for making investments in new and emerging technologies, including trigeneration, efficient motors and air-conditioners, smart meters/grids and associated new business models to expand the use of such innovations as well as to set up v
About Asian Development Bank (ADB)
ADB is a regional development bank based out of Asia. It aims to promote social and economic development in Asia by achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific while sustaining its efforts to eradicate extreme poverty.
ADB was established in December 1966. It is headquartered at Ortigas Centre in Manila, Philippines. It has a total of 67 members, of which 48 are from within Asia and the Pacific and 19 outside.
