India Green Finance Facility (IGFF)
India is the world’s third-largest emitter of carbon dioxide, with its energy supply heavily dependent on fossil fuels. Over the past decade, India has made significant progress and achieved rapid growth in renewable energy capacity. The country risks remaining locked into a carbon-intensive trajectory, as rising energy continues to outpace the deployment of clean energy solutions. New solutions are needed to drive decarbonisation in key sectors and to support further scale-up of renewable energy. Climate change complicates this transition, with extreme weather events disrupting power supply and heat waves increasing demand for fossil fuel-based energy.
This programme will accelerate India’s clean energy transition by mobilising climate finance for emerging clean energy technologies and strengthening state-owned Development Finance Institutions (DFIs) to institutionalise green lending practices and drive large-scale gender-responsive investments. It will enable DFIs to offer loans to public and private sector borrowers to finance initiatives for decarbonisation of the energy, transport, industry, and agriculture sectors. It will also establish a Risk-Sharing Facility (RSF) to provide guarantees for small-scale projects, facilitating investments by local financial institutions.
Key activities include providing DFIs with concessional credit lines for on-lending to public and private sector borrowers and establishing the RSF to promote investment in sectors aligned with India’s clean energy transition goals and national programmes; and building the capacity of financial institutions in India to finance emerging clean energy technologies through technical assistance, policy engagement, and capacity-building initiatives. In addition, there will be a focus on ensuring climate finance principles and gender-responsive approaches are embedded into institutional practices.
Project timeline
Pipeline
22 Dec 2023 • 560 days
Concept note received
22 Dec 2023
Funding proposal received
15 Jan 2025
Cleared by GCF Secretariat
15 Apr 2025
Cleared by iTAP
09 Jun 2025
Approved
03 Jul 2025 • 25 days so far
Approved by GCF Board
03 Jul 2025
Under implementation
To be completed
-
Financing
- Private sector
- Public sector
-
Size
- Micro
- Small
- Medium
- Large
GCF financing
Instrument | Amount |
---|---|
Loan | USD 187,000,000 |
Grant | USD 13,000,000 |
Total GCF Financing |
---|
USD 200,000,000 |
Co-financing
Co-financer | Instrument | Amount |
---|---|---|
Co-Financing | Loan | USD 793,000,000 |
Total Co-Financing |
---|
USD 793,000,000 |
GCF Contacts
General media inquiries
GCF CommunicationsSend e-mail
Request for information
GCF Information DisclosureRequest information about this project
Project complaints and grievances
GCF Independent Redress Mechanism (IRM)Phone +82 32 458 6186 (KST)
File a complaint
Integrity issues
GCF Independent Integrity Unity (IIU)Phone +82 32 458 6714 (KST)
Send e-mail
Entity
More contacts
National Designated Authority
Ministry of Environment, Forests and Climate Change
Economic Advisor
Indira Paryavaran Bhavan, Jor Bagh Road, New Delhi-110003, New Delhi, India
Documents
Title | Type | Date |
---|---|---|
Environmental and social safeguards (ESS) report for FP271: India Green Finance Facility (IGFF) | Environmental and Social Safeguards report | 23 May 2025 |