The finance ministry Monday signed a tripartite agreement with the World Bank and the Small Industries Development Bank of India to help finance energy efficient projects of small industries.

The project is proposed to be implemented through global environment facility grant of $11.3 million, an official statement said.

The objective of the project is to increase demand for energy efficiency investments in micro, small and medium enterprise and to build their capacity to access commercial finance.

The project which consists of different parts including, capacity and awareness building, increasing energy efficiency investments and knowledge management and sharing, is likely to be completed by the end of 2014.