The Minister for Asia (Amanda Milling)

It works in more than 170 countries globally to reduce extreme poverty, boost shared prosperity and address global challenges such as climate change.

The India green guarantee to the World Bank will unlock additional lending worth US$1 billion for green projects in India. This financing will be used for projects that address climate change and will be designed to maximise impact through relevant approaches described in the departmental minute.

The UK is creating this new liability for two reasons. First, to meet a clear climate financing need. India is pivotal in the global effort to tackle climate change. It is raising its climate ambition but will need enhanced financial support in order to do so. Secondly, to alleviate constraints on World Bank lending to the Government of India. The departmental minute provides further detail on these issues and how the guarantee addresses them.

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