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Revolving fund for energy efficiency launched; five cities to benefit

Major portion of GEF financing would come from Asian Development Bank; 5 cities to get global help for cooling, heating systems

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Last Updated : Nov 02 2017 | 3:04 AM IST

Global Environment Facility (GEF), with Energy Efficiency Services (EESL), have launched a revolving fund for three efficiency areas.

EESL, under the ministry of power, is a joint venture of four state sector undertakings. Washington-based GEF would also be funding EESL’s district energy initiative in Bhopal, Pune, Coimbatore, Thane, and Rajkot.

The major portion of GEF’s financing, $200 million, for the revolving fund would come from Asian Development Bank (ADB). It would get $454 million, comprising the GEF grant of $20 million and co-financing of $434 million in the form of loans and equity, including the ADB loan.

Naoko Ishii, chairperson and chief executive

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