India to propose creation of World Solar Bank at ISA's next summit

Global competition to decide which country will host the $10 billion bank

The Indian government will propose a World Solar Bank during the next assembly of International Solar Alliance (ISA) scheduled to be held in October.
 

The proposed financing agency is aimed to pool resources from across the globe and use them to fund solar power projects in ISA member countries.
 

The proposed capital size of the World Solar Bank would be $10 billion. ISA officials said the country that would request to host the headquarters of the bank would have to contribute 30 per cent of the proposed capital. “A global competition would be held among the member countries to decide