ADB approves $250 million loan to EESL

The Asian Development Bank (ADB) has approved a loan of USD 250 million (about Rs 1,775 crore) as part of an assistance package to EESL to expand energy efficiency investments in India. The new ADB project is a sector loan guaranteed by the Government of India, allowing for undertaking of sub-projects with high readiness and inclusion of newer sub-projects as they are developed.

Daily Current Affairs Quiz 2019

Activities to be undertaken by the Energy Efficiency Services Limited (EESL) in eligible states include energy efficiency opportunities not targeted by traditional energy service company investments, such as smart meters, distributed solar photovoltaic systems, and e-vehicles. Accompanying the loan will be a technical assistance (TA) of USD 2 million to support EESL in implementing the project, due for completion in March 2025.