The International Solar Alliance (ISA) and the European Bank for Reconstruction and Development (EBRD) on Thursday signed a Joint Financial Partnership Declaration for the promotion of solar energy.

“India has been in the forefront of the 42-nation International Solar Alliance,” Finance Minister Arun Jaitley said while speaking on the occasion. “Our energy requirements are huge and [we] want to make optimal use of our new and renewable sources of energy.”

Earlier, interim Director General of the ISA Upendra Tripathy said that the collaboration between the ISA and the EBRD would also help funding of solar projects both in African and other countries.