
ADB, Greenway: Channel Carbon Finance by signing a deal for Enhancing Improved Cookstove Usage in Rural India
24 November, 2023: A $6.5 million senior secured loan to produce and distribute 1 million improved cookstoves to the states of Madhya Pradesh and Odisha in rural India was signed by ADB – The Asian Development Bank and Greenway Grameen Infra Private Limited. A first-loss liquidity reserve of $3.25 million has been included from the Climate Innovation and Development Fund (CIDF), administered by ADB. There will be a significant reduction in black carbon and carbon monoxide emissions as the improved stoves reduce the fuel needs by 65% and the generation of smoke by 70% as compared to the typical and traditional indoor stoves or mud chulhas. Through this project, the cost of new cookstoves for rural households will be subsidized.








