The World Bank is set to offer $648 million in funding assistance to India for the installation of rooftop solar power projects in the small and medium scale company market.

This package includes a credit guarantee scheme worth $100 million. The assistance will be delivered through the State Bank of India (SBI), the country's largest commercial bank.

The programme will target small and medium-sized companies that usually do not meet lending criteria for funding institutions. This is the second collaboration between the World Bank and the SBI.

World Bank launched the $648 million loan assistance programme for the rooftop solar market in 2016. The ministry claimed that around 16 gigawatts (GW) of rooftop solar power capacity could be installed in small and medium-sized companies.