India, UK agree investment boost at Economic and Financial Dialogue

New steps to tackle climate change and boost investment were announced on Thursday at the 11th India-UK Economic and Financial Dialogue (EFD). Finance Minister Nirmala Sitharaman and UK Chancellor Rishi Sunak, who met virtually for the annual summit, signed off a USD 1.2-billion package of public and private investment in green projects and renewable energy to boost India's green growth ambitions.
This includes a USD 1 billion investment from CDC, the UK's development finance institution in green projects in India, joint investments by both governments to support companies working on innovative green tech solutions, and a new USD 200 million private and multilateral investment into the joint Green Growth Equity Fund which invests in Indian renewable energy.