Current Affairs - Banking - Discussion

The Asian Infrastructure Investment Bank (AIIB) will give $100-million loan to L&T(Larsen & Toubro) Infrastructure Finance Company(LTIF) for wind and solar infrastructure projects. This is the first time AIIB provide loan to a non-banking finance company(NBFC). LTIF, a subsidiary of L&T Finance Holdings collaboration with AIIB help the company explore in the international market for green finance. The project will help in increasing the supply of renewable energy in India& also helps to reduce the carbon intensity by 30-35 percent of the 2005 levels by 2030 which was India's commitment under Paris agreement. India has set a target to install 175 Gigawatt (GW) of renewable energy capacity by 2022, of which a total of 80.04 GW of renewable energy capacity has been installed in the country till May 2019.