The government, SIDBI, and which global organizations are set to launch a $1 billion fund to provide guarantees against loan default to lenders financing purchase of electric two- and three-wheelers?

Solution

Launch a $1 billion fund to provide guarantees against loan default to lenders financing purchase of electric two- and three-wheelers-The government, World Bank and Small Industries Development Bank of India (SIDBI) are set to launch a $1 billion fund to provide guarantees against loan default to lenders financing purchase of electric two- and three-wheelers. SIDBI and the World Bank have started interacting with financial institutions and manufacturers to understand how to enhance commercial financing availability for electric two and three wheelers and develop a risk sharing program for financial institutions interested in this market. World Bank                     Headquarters: Washington DC,US             President: David Malpass SIDBI Headquarters :Lucknow CMD :Sivasubramanian Ramann