India’s Line of Credit to Guinea for water and energy projects
On December 5th, the Indian government announced an extension of line of credit (LoC) to Guinea for 2 solar power projects. The Republic of Guinea is a country in Western Africa with its capital at Conarky. Only this year the Indian state had opened an embassy at Conarky. The LoC will also fund a water supply project at Conarky.
The credit is in line with India’s leadership in the International Solar Alliance of which Guinea is also a part. The other members of the ISA are Japan, France, UK, UAE, Australia, etc. Currently, there are 121 members in the grouping which is headquartered at Gurugram, India. The goal of the ISA is to achieve generation of 1,000 GW of solar energy and mobilize 1,000 billion USD for solar energy by 2030. India is to move a resolution for amending the ISA’s framework to allow for the inclusion of all UN members.
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