India: NDB And ISA Tie Up To Promote Solar Energy

The New Development Bank (NDB) and International Solar Alliance (ISA) have joined hands to promote solar energy across the globe.

The NDB was established by Brazil, Russia, India, China and South Africa to mobilise resources for infrastructure and sustainable development projects in BRICS and other emerging economies & developing countries. ISA is a treaty-based international inter-governmental organisation which was launched on November 30, 2015, in Paris and headquarters at Gurgaon, Haryana.

“On March 10 2018, the NDB and ISA signed in New Delhi, a joint declaration for the promotion of solar energy globally,” an NDB statement said. The declaration was signed by Mr. K. V. Kamath, NDB’s President and Mr. Upendra Tripathy, Interim Director General of ISA, in the presence of Finance Minister Mr. Arun Jaitley. The NDB and the ISA agreed to consider a roadmap for the mobilisation of financing to promote solar energy in countries of common interest and to explore mechanisms for supporting solar energy development. The parties will mutually support the implementation of the NDB’s and ISA’s plans for solar energy development and deployment through technical assistance and knowledge transfer.