NEW DELHI: The United States Agency for International Development (USAID) and the US International Development Finance Corporation (DFC) are together sponsoring a $41 million loan portfolio guarantee to aid investments by Small and Medium Enterprises (SMEs) in renewable energy in India, a statement from the US embassy said on Thursday.
These include rooftop solar installations and the loans will enable SMEs to access reliable power and cut costs, the statement said.
“USAID, India is pleased to promote power diversification and support local businesses in India. Investments in solar solutions, secured by these credit guarantees, will improve access to clean, steady, and affordable energy as well as further progress towards India’s clean energy transition and climate change mitigation,” Karen Klimowski, USAID’s India Acting Mission Director said.
