SBI gets $625 mn from World Bank for solar photovoltaic projects

State Bank of India has inked agreements with the World Bank for a $625-million (around Rs. 4,200 crore) facility to support grid connected rooftop solar programme in the country.

Facts:

• Under Grid connected rooftop solar photovoltaic (GRPV) at least 400 MW solar capacity will be created across the country
• This agreement will help SBI to finance grid connected rooftop solar photovoltaic projects at very competitive rates.
• This investment climate for solar PV projects will be improved through technical assistance to strengthen the capacity of key institutions

Agreement Signed By: The agreements were signed by Karnam Sekar, deputy managing director, SBI and Onno Ruhl, Country Director, World Bank India.

About World Bank:

• Headquarter of World Bank: Washington D.C, United States
• President of World Bank: Jim Yong Kim (he is 12th president)
• World Bank set up in: 1944 (Bretton Woods Conference) 

Important Question for Competitive Exam from this Current Affairs:

1. SBI gets _______ mn from World Bank for solar photovoltaic projects: a)500 b)100 c)625 d)325