Additional Financing for Financing Energy Efficiency at MSMEs Project (WB-P158033)

Countries
  • India
Where the impacts of the investment may be experienced.
Financial Institutions
  • World Bank (WB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Nov 4, 2016
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Government of India
The holder of the loan, grant, or other investment.
Sectors
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Grant
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 5.19 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 30.19 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ WB website

Updated in EWS Aug 1, 2017

Disclosed by Bank Mar 30, 2016


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Project Description
The Development Objective of the Additional Financing for Financing Energy Efficiency at MSMEs Project is to increase demand for energy efficiency investments in target micro, small and medium enterprise clusters and to build their capacity to access commercial finance. It supports the global environmental agenda of stabilizing atmospheric concentrations of greenhouse gases (GHG) through an increase in Energy Efficiency investments and resulting energy savings. The proposed additional financing (AF) is consistent with the Government programs and is also aligned with the Bank’s Country Partnership Strategy (CPS, 2013-2017) with its focus on inclusive growth, jobs, private sector development, sustainability and reduced Greenhouse Gas (GHG) emission intensity.The proposed AF would be processed with the following changes: (i) adjustment of the targets of the results indicators to reflect the proposed scale up and measuring outcomes that would help the Bank track progress towards GHG emission reduction and (ii) closing date extension to May 4, 2019 to ensure synergy, as the AF relates to replication and scaling up of existing project components.
Investment Description
  • World Bank (WB)
Contact Information
World Bank Contact: Sita Ramakrishna Addepalli Title: Senior Environmental Specialis Page 10 of 10 Borrower/Client/Recipient Name: Small Industries Development Bank of India Contact: Title: Chief General Manager Email: rdharmaji@sidbi.in Implementing Agencies Name: Bureau of Energy Efficiency Contact: Vishal Aggarwal Title: Sr. Energy Specialist Email: vaggarwal@beenet.in; ACCOUNTABILITY MECHANISM OF WORLD BANK The World Bank Inspection Panel is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by a World Bank-financed project. If you submit a complaint to the Inspection Panel, they may investigate to assess whether the World Bank is following its own policies and procedures for preventing harm to people or the environment. You can contact the Inspection Panel or submit a complaint by emailing ipanel@worldbank.org. You can learn more about the Inspection Panel and how to file a complaint at: http://ewebapps.worldbank.org/apps/ip/Pages/Home.aspx.