International Finance Corporation (IFC), a World Bank Group member, is planning to invest up to $6 billion in India over the next five years to support initiatives in renewable energy and green buildings, said a top official of the institution.
“We have already invested over $2 billion in green buildings initiatives in India since 2005. Over the next five years until 2022, we will be investing $5 billion to $6 billion on climate change-led initiatives,” said Jun Zhang, India country head, IFC.
Out of this proposed investment, 20% will be invested in efforts towards green buildings initiatives, while rest will be in climate change-led and sustainable development projects.
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