Washington, July 30 (DPA) The US will loan up to $37.5 billion to fund renewable energy projects around the country, the Energy Department said Wednesday.

The new loans are part of an effort to stimulate the US economy and reduce emissions of greenhouse gases blamed for global warming.

Part of the money will come from a $787-billion recovery package approved by Congress in February. Nearly $40 billion went to the Energy Department.

The department has already earmarked more than $10 billion since June in grants for greener vehicles and for the development of solar, wind and bio-mass power plants.