'Private sector to be prime mover of clean energy funding'

The private sector has to be the prime mover in financing clean energy development to mitigate environmental challenges in India, Minister of State for Finance Jayant Sinha said on Thursday.

"Even as we talk about what government is doing with respect to climate change financing, the reality is that the private sector is going to be the prime mover and prime agent in actually helping us to deal with the financing of the climate amelioration technologies," Sinha said at a conference here on climate change financing In India.

The minister said the country needs to look towards the private sector for large-scale and innovative solutions in this area.

"We have to think, in India how we can come up with innovative solutions, where domestic venture capital, domestic private equity, some kind of innovative financing arrangement with public sector support (can) make it possible for us to enable a very valuable solution to take off," Sinha said.

--Indo-Asian News Service

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