The Asian Development Bank (ADB) and the Government of India on 16th December 2019 signed a $250 million loan to Energy Efficiency Services Limited (EESL) to expand energy efficiency investments in India that will benefit agricultural, residential and institutional consumers. In addition, $46 million financing will be provided from the Clean Technology Fund (CTF), to be administered by ADB.

ADB previously approved a $200 million loan to EESL, a public sector energy service company, in 2016 for Demand Side Energy Efficiency Sector Project that focused on efficient lighting and appliances.

ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty.

In 2018, it made commitments of new loans and grants amounting to $21.6 billion.

Established in 1966, it is owned by 68 members — 49 from the region.

Source: PIB

Relevant for GS Prelims