WASHINGTON (APP) – The World Bank has said that it will increase funding for renewable energy to reduce the effects of climate change in developing countries.

In a statement issued in Washington, the bank said, following the UN climate conference that yielded the Paris Agreement in December, it has chalked out a plan which would add 30 gigawatts of renewable energy to the global grid.

Under the plan, the electric power would be provided to 150 million homes with renewable energy by 2020.