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Which global financial institution recently signed an MoU with the International Solar Alliance to promote sustainable energy solutions?
- a)International Monetary Fund (IMF)
- b)World Bank
- c)Asian Development Bank (ADB)
- d)European Bank for Reconstruction and Development (EBRD)
- e)African Development Bank (AfDB)
Correct answer is option 'B'. Can you explain this answer?
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Which global financial institution recently signed an MoU with the Int...
The World Bank signed an MoU with the International Solar Alliance in 2021 to mobilize investments and promote the deployment of affordable solar energy solutions.
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Which global financial institution recently signed an MoU with the Int...
Overview of the MoU
The recent Memorandum of Understanding (MoU) signed between the World Bank and the International Solar Alliance (ISA) marks a significant step towards enhancing sustainable energy solutions globally. This partnership aims to leverage resources and expertise to promote solar energy, particularly in developing nations.
Key Objectives of the MoU
- Investment in Solar Energy: The MoU focuses on mobilizing investments in solar energy projects, which are crucial for meeting energy demands while reducing carbon footprints.
- Technical Assistance: The World Bank will provide technical support to ISA member countries, helping them design and implement solar energy initiatives effectively.
- Capacity Building: The collaboration aims to strengthen the capabilities of local institutions in member countries, ensuring they can manage and sustain solar projects.
Importance of the World Bank's Involvement
- Financial Resources: As a major global financial institution, the World Bank has the capacity to allocate substantial funding for renewable energy projects, enhancing the reach of solar technology.
- Global Reach: The World Bank’s extensive network and experience in various regions allow for broader implementation of solar initiatives, especially in underdeveloped areas.
Conclusion
The MoU between the World Bank and the International Solar Alliance is a pivotal development in the global transition towards sustainable energy. By combining financial resources with technical expertise, this partnership aims to significantly advance solar energy deployment, contributing to climate change mitigation and energy accessibility worldwide.
The recent Memorandum of Understanding (MoU) signed between the World Bank and the International Solar Alliance (ISA) marks a significant step towards enhancing sustainable energy solutions globally. This partnership aims to leverage resources and expertise to promote solar energy, particularly in developing nations.
Key Objectives of the MoU
- Investment in Solar Energy: The MoU focuses on mobilizing investments in solar energy projects, which are crucial for meeting energy demands while reducing carbon footprints.
- Technical Assistance: The World Bank will provide technical support to ISA member countries, helping them design and implement solar energy initiatives effectively.
- Capacity Building: The collaboration aims to strengthen the capabilities of local institutions in member countries, ensuring they can manage and sustain solar projects.
Importance of the World Bank's Involvement
- Financial Resources: As a major global financial institution, the World Bank has the capacity to allocate substantial funding for renewable energy projects, enhancing the reach of solar technology.
- Global Reach: The World Bank’s extensive network and experience in various regions allow for broader implementation of solar initiatives, especially in underdeveloped areas.
Conclusion
The MoU between the World Bank and the International Solar Alliance is a pivotal development in the global transition towards sustainable energy. By combining financial resources with technical expertise, this partnership aims to significantly advance solar energy deployment, contributing to climate change mitigation and energy accessibility worldwide.
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Which global financial institution recently signed an MoU with the International Solar Alliance to promote sustainable energy solutions?a)International Monetary Fund (IMF)b)World Bankc)Asian Development Bank (ADB)d)European Bank for Reconstruction and Development (EBRD)e)African Development Bank (AfDB)Correct answer is option 'B'. Can you explain this answer?
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Which global financial institution recently signed an MoU with the International Solar Alliance to promote sustainable energy solutions?a)International Monetary Fund (IMF)b)World Bankc)Asian Development Bank (ADB)d)European Bank for Reconstruction and Development (EBRD)e)African Development Bank (AfDB)Correct answer is option 'B'. Can you explain this answer? for Banking Exams 2024 is part of Banking Exams preparation. The Question and answers have been prepared according to the Banking Exams exam syllabus. Information about Which global financial institution recently signed an MoU with the International Solar Alliance to promote sustainable energy solutions?a)International Monetary Fund (IMF)b)World Bankc)Asian Development Bank (ADB)d)European Bank for Reconstruction and Development (EBRD)e)African Development Bank (AfDB)Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for Banking Exams 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which global financial institution recently signed an MoU with the International Solar Alliance to promote sustainable energy solutions?a)International Monetary Fund (IMF)b)World Bankc)Asian Development Bank (ADB)d)European Bank for Reconstruction and Development (EBRD)e)African Development Bank (AfDB)Correct answer is option 'B'. Can you explain this answer?.
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