Current Affairs - Finance - Discussion

The World Bank Group approved a USD 890 million financing package on 10 July 2026 to accelerate India's national residential solar rooftop programme under the PM Surya Ghar: Muft Bijli Yojana. The package includes a USD 820 million IBRD loan, a USD 60 million concessional loan from the Clean Technology Fund, and a USD 10 million grant from the IBRD’s Livable Planet Fund. The initiative is expected to mobilise USD 4.2 billion in private investment, support solar installations for 10 million households, create around 1.7 million jobs, and contribute to India's goals of achieving 60% non-fossil-fuel-based electricity capacity by 2035 and Net Zero emissions by 2070.