FP271

India Green Finance Facility (IGFF)

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.

Total project value

0.0

Tonnes of emissions avoided

0.0

Theme

Mitigation

Result areas

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

One region

  • Asia-Pacific

One country

USD 0.0
  • Financing
    • Private sector
    • Public sector
  • Size
    • Micro
    • Small
    • Medium
    • Large
Co-Financing793.0mLoanGCF187.0mLoan..Co-financing 79.9%GCF financing 20.1%

GCF financing

InstrumentAmount
LoanUSD 187,000,000
GrantUSD 13,000,000
Total GCF Financing
USD 200,000,000

Co-financing

Co-financerInstrumentAmount
Co-FinancingLoanUSD 793,000,000
Total Co-Financing
USD 793,000,000

GCF Contacts

General media inquiries

GCF Communications
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Request for information

GCF Information Disclosure
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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

Asian Development Bank
Mr. Christian Ellermann
Primary

Senior Climate Change Specialist
More contacts

National Designated Authority

India
Ministry of Environment, Forests and Climate Change
Ms. Rajasree Ray Primary
Economic Advisor
Indira Paryavaran Bhavan, Jor Bagh Road, New Delhi-110003, New Delhi, India
Phone 011-2081-9197
rajasree.r@nic.in

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