New York : At the 74th session of the UN General Assembly, Prime Minister Narendra Modi announced a $150 million “line of credit” to the Pacific island nations for undertaking solar, renewable energy and climate related projects. During the India-Pacific Islands Developing States (PSIDS) leaders’ meeting which he attended, Mr. Modi also announced a total allocation of $12 million to the member states towards implementation of high-impact developmental project.
The meeting which was held yesterday was attended by the Heads of delegation of Fiji, Republic of Kiribati, Republic of Marshall Islands, Federated States of Micronesia, Republic of Nauru, Republic of Palau, Independent State of Papua New Guinea, Independent State of Samoa, Solomon Islands, Kingdom of Tonga, Tuvalu and Republic of Vanuatu.
The PM further expressed India’s readiness to share its experiences in developing alternate energy as many countries from the region have joined the International Solar Alliance and also invited others to join this initiative. Mr. Modi emphasised that India and the India-Pacific Islands Developing States (PSIDS) have shared values and future.
He highlighted the need for development policies to be inclusive and sustainable to reduce inequality and improve the quality of people’s lives. He underlined the reality of climate change and called for increasing the share of renewable energy in the total energy mix to mitigate many adverse effects of climate change.