The World Bank today approved a USD 180-million loan for the renovation and modernisation of old, polluting and inefficient coal-fired power plants in India, in a move that could help lower carbon emissions.

"The project, which is expected to lower carbon emissions and boost power production at these plants, is co-financed with a USD 45.4-million grant from the Global Environment Facility (GEF)," the funding agency said in a statement.