World Bank to launch $100 million guarantee scheme for solar rooftop projects

The World Bank is planning to introduce a $100-million credit guarantee scheme to boost the rooftop solar programme in India for MSMEs.
The scheme will enable micro, small, and medium enterprises (MSMEs) to avail concessional debt financing for setting up rooftop solar units.
To implement the scheme, the World Bank will collaborate with State Bank of India (SBI) and the MSME ministry.
The scheme will be beneficial for those firms that do not meet banks and other financial institutions’ lending criteria.