New Delhi

TheWorld Bank Group has approved an $890 million financing package to support India’s rooftop solar programme, aiming to expand clean energy access, reduce household electricity costs and create 1.7 million jobs.Approved by the World Bank’s Board of Executive Directors, the package includes an $820 million loan from the International Bank for Reconstruction and Development (IBRD), a $60 million concessional loan from the Clean Technology Fund and a $10 million grant from the IBRD’s Livable Planet Fund.

The World Bank will also mobilise about $4.2 billion in private financing through commercial loans to support household rooftop solar installations. The funding will support the Centre’s PM Surya Ghar: Muft Bijli Yojana, which aims to install rooftop solar systems in 10 million rural and urban households.