The World Bank will invest Rs 3.5 crore to establish a framework for the Green Climate Fund to support the Goa government in meeting its 2050 goal, providing a significant boost to the state's transition to 100% renewable energy. The World Bank has guaranteed the state that it will receive the necessary expertise to meet this goal.
The officials of the World Bank have promised to help the state government organize and acquire the necessary knowledge to make the 100% switch to renewable energy by 2050. Additionally, it has stated that it will establish a Green Climate Fund for the state to implement mitigation measures, according to a senior officer.
According to the official, the World Bank would advise the state on the number of funds required and how to obtain a loan.
With the help of the World Bank, the Goa Coastal Environment Management Society will establish the fund. As part of this process, it will prepare a study report to create the fund's framework at no cost to the Goa government.
Chief Secretary Puneet Goel, Principal Secretary Finance Kandlevelu, and Secretary of Power Ajit Roy met with Practice Manager Abhas Jha and his team from the World Bank's Climate Change South East Asia.
The World Bank team met separately with Nilesh Cabral, the environment minister, and Pradip Sarmukadam, the member secretary of the Goa State Biodiversity Board (GSBB).
Cabral informed the World Bank team of the state government's attempts to create the State Action Plan for Climate Change through the GSBB as well as the state's worry over the flooding of khazan farming land as a result of the bund breach.
He also told them about the state's efforts to determine whether it could be possible to use the sand motor technology developed by the Netherlands to stop sea erosion.
