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India’s government will offer Rs. 16,000 –crore ($1.9 billion) of green bonds in its debut issuance as Prime Minister Mr Narendra Modi steps up efforts to transform the fossil-dependent nation. According to a statement from the Reserve Bank of India, the government plans to offer bonds in two tranches of 80 billion rupees each in auctions due on January 25 and February 9. Indian authorities are keen to tap the billions of dollars of global funds that are dedicated to green investments and have categorized the issuance under Fully Accessible Route (FAR), which is aimed at foreign investors. Proceeds will be used for renewable energy projects, cutting emissions and boosting the resilience of India’s infrastructure to extreme weather. The nation’s green bond framework says expenditures must align with widely-used principles from the International Capital Market Association. The RBI said the debut issuance will be done in 5- and 10-year tenors.