The World Bank has approved $1.5 billion in financing to aid India in fast-tracking the development of low-carbon energy. The loan will specifically target promoting green hydrogen production, scaling up renewable energy projects, and facilitating finance for low-carbon energy investments. This initiative aligns with India's ambitious National Determined Contributions (NDCs) under the Paris Agreement, aiming to increase non-fossil fuel-based power sources, reduce emissions intensity, and enhance the country's carbon sink capacity. The funding will also support the National Green Hydrogen Mission, mobilizing investments in green hydrogen production and electrolysers. Already, there is growing private sector interest in green hydrogen, with estimates indicating potential investments of up to $70 billion. The loan operation is expected to contribute significantly by incentivizing green hydrogen production and supporting the local production of electrolysers. Additionally, the World Bank stresses the importance of climate finance, emphasizing that all financial investments should align with climate goals. The focus is on encouraging countries to embrace energy transition for mutual benefits and sustainability. Overall, this financing signifies a crucial step towards achieving India's green energy targets and fostering a greener, more sustainable future.