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World Bank signs for three projects

The Government of India has signed agreements with World Bank for three projects, namely ‘Chiller energy efficiency project’, ‘National agricultural innovation project (Additional Financing)’ and ‘Uttarakhand decentralized watershed management project (Additional Financing)’. The details of the projects are as under:

Chiller Energy Efficiency Project
Total cost: US$ 83.27 million
Break-up
Global Environment Facility (GEF) Grant: US$ 6.3 million
Montreal Protocol Ozone Projects Trust Fund (OTF) Grant: US$ 1 million
Spanish Carbon Fund: US$ 5.85 million (for which International Bank for Reconstruction & Development (IBRD) is acting as trustee)
Remaining amount of US$ 70.12 million would be raised by Chiller Owners themselves.

Objective: To accelerate the replacement of centrifugal chillers with efficient non-CFC-based centrifugal chillers in order to promote deployment of energy efficient technologies and products to reduce greenhouse gas emissions, and support the phase-out of CFC demand in India.
Project activities:
i Investment in Chiller Replacement.
ii Measurement, Monitoring and Verification
iii. Technical Assistance.
iv. Project Management Unit.

Project completion: December 31, 2016.

National Agricultural Innovation Project (Additional Financing)
Total cost: US $ 95.34 million
Break-up
Global Environment Facility (GEF) Grant: US$ 7.34
IDA co-financing: US$88 million

Objective: To strengthen institutional and community capacity for sustainable land and ecosystem management through approaches and techniques that combine innovative and indigenous techniques for restoring and sustaining the natural resource base, including its biodiversity, while taking account of climate variability and change.
Project completion: June 30, 2013.

Uttarakhand Decentralised Watershed Management Project (Additional Financing)
Total cost: US $ 97.49 million
Break-up
Global Environment Facility (GEF) Grant: US$ 7.49
IDA co-financing: US$90 million

Objective: To restore and sustain ecosystem functions and biodiversity while simultaneously enhancing income and livelihood functions, and generating lessons learned in these respects that can be up-scaled and mainstreamed at state and national levels.
Project completion: June 30, 2013.

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