World Bank backs Pakistan, India clean energy projects
The World Bank has approved over $1.2 billion in financing for energy projects in Pakistan and India. The funds will support grid modernization in Pakistan and a massive residential rooftop solar initiative in India.
Why it matters
These investments are critical for regional energy security and meeting long-term net-zero emission targets in two of the world's most populous nations.
The World Bank has approved financing for clean energy projects in Pakistan and India, backing grid upgrades in Pakistan to improve renewable energy integration and rooftop solar deployment in India to expand residential clean energy adoption.
The World Bank's Board of Executive Directors approved $375.9mn in financing on 9 July for Pakistan's Grid Stability Enhancement Project under the Boosting Energy Security through Transmission in Pakistan (BEST-PAK) programme — the first phase of a 10-year initiative to modernise the country's power grid.
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