Keep ready your passports: Badruddin Ajmal to party leaders

GUWAHATI: Apprehensive that its elected MLAs will be poached post May 19 counting of ballots in Assam, All India United Democractic Front (AIUDF) chief Badruddin Ajmal has asked its candidates to keep ready their passport as Ajmal plans to fly them out of the country.
Ajmal is scared that its MLAs will be targeted for horse trading in the event of hung assembly in Assam. Senior AIUDF leader told ET, “ We were asked to keep our passports ready. There is chances that we will go to Dubai as Ajmal the perfume baron has business empire there.”

In two Rajya Sabha elections of 2010 and 2014, AIUDF has witnessed poaching of its MLAs. Ajmal does not want to take chance this time.

AIUDF MLA Abdur Rahim Khan said, “We are asked by party chief. We are keeping our documents ready. We have no idea where the winners from our party will be flown out. But since he has taken a decision we will follow it."

In 2011assembly polls , AIUDF has won 18 seats in the 126 member assembly. In 2016 assembly polls AIUDF has contested 71 seats.

“We are committed to achieving our renewable energy targets. More can be done with longer-term and low-cost international financing while urging other countries to do their part in taking stronger action on climate change,” he said.

Just three years ago, green bonds financed about $11 billion projects worldwide. This year the financing could rise to $100 billion. India, meanwhile, has used green bonds to finance only about $1 billion in clean energy projects to date.

A green bank could offer lower interest charges than traditional banks and tap into international capital to finance solar and wind projects to help India power its cities and rural communities.

“The analysis on green bonds and green banks and what this means for clean energy advancement in India has come at an opportune time. It was valuable to collaborate with strong knowledge partners like NRDC and CEEW and we look forward to working together to unleash attractive finance for clean energy so that India can achieve its targets,” said IREDA chairman K S Popli.

Green banks are public entities created to work with the private sector to increase investment in clean energy and bring clean energy financing into the mainstream. They are innovative and new tools that have been successful in the United Kingdom, Australia, Japan, Malaysia, and several U.S. states.

“For India to meet the vital challenge of protecting the climate and extending energy access to millions of Indians, then the world of finance must be involved in full force,” said Doug Sims, director of strategy and finance, Center for Market Innovation at NRDC.

“Smart financing instruments like green banks and green bonds can accelerate the necessary shift to investment in clean energy projects India needs to achieve its goals,” he said.

“Attractive low-cost finance for clean energy projects is crucial for tapping into India’s vast clean energy potential and for transforming India into a low-carbon economy. In 2015, India was the fourth largest issuer of green bonds in the world, raising debt worth $1.1 billion, ahead of several major economies such as China, Japan, Norway and the UK. Scaling up the market for green bonds could further reduce the cost of capital, stimulate the flow of finance from institutional and retail investors, and expand the base of issuers. India is also ready to be home to a green gank, which could offer solutions to overcome local financing barriers to clean energy,” said, Arunabha Ghosh, CEO at Council on Energy, Environment & Water.