India Provides A Loan Of $100 Million To Sri Lanka for Solar Energy Projects

The International Solar Alliance (ISA): It was founded in 2015 by the Indian Prime Minister and the French President with the goal of enabling One World, One Sun, One Grid (OSOWOG).
Sheena

Updated: Jun 21, 2021 11:58:21 am

21 June 2021 Current Affairs:India has signed an agreement with Sri Lanka to extend a USD 100 million Line of Credit (LOC) for Solar Energy projects.

Highlights:
♦ The LOC has a term of 20 years and an interest rate of 1.75 percent.
♦ It was signed by the Sri Lankan government and the Export-Import Bank of India.
♦ EXIM Bank is a specialised financial institution that is wholly owned by the Indian government.
♦ LOC will aid in the financing of various solar energy projects in Sri Lanka.
♦ India’s Initiatives for Global Cooperation Solar Energy:
♦ The International Solar Alliance (ISA): It was founded in 2015 by the Indian Prime Minister and the French President with the goal of enabling One World, One Sun, One Grid (OSOWOG).
One Sun, One World, One Grid (OSOWOG):
♦ Focus: A framework for facilitating global cooperation, with the goal of creating a global ecosystem of interconnected renewable energy resources (primarily solar energy) that can be shared smoothly.
 
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