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Key Points

SBI has signed a €100 million Line of Credit agreement with France's AFD to boost green financing in India. The funds will support climate mitigation projects and help reduce greenhouse gas emissions across the country. This partnership aligns with SBI's goal of achieving 7.5-10% green portfolio in domestic advances by 2030. The collaboration will provide competitive financing solutions while leveraging AFD's expertise in climate finance and sustainability frameworks.

Key Points: SBI AFD Sign €100 Million Green Financing Line of Credit

  • €100 million credit line signed at SBI GIFT City branch
  • Funds for climate mitigation and greenhouse gas reduction
  • Supports India's green transition with competitive financing
  • Aims for 7.5-10% green portfolio by 2030
  • Leverages AFD's climate finance expertise
  • Aligns with global sustainability frameworks
2 min read

SBI, AFD sign Euro 100 million Line of Credit to boost green financing in India

SBI partners with AFD for €100M green financing to boost India's climate projects and support 7.5-10% green portfolio target by 2030.

"Through this collaboration with AFD, we are not only advancing our green finance roadmap but also enabling impactful climate solutions across India. - SBI Senior Official"

Gift City, August 30

State Bank of India (SBI) has signed a Line of Credit agreement of EUR 100 million with Agence Francaise de Developpement (AFD) at its GIFT City branch.

According to a statement from the Indian lender, the funds mobilised through this partnership will be utilised in Climate Mitigation Actions aimed at reducing greenhouse gas emissions to slow down global warming and climate adaptation measures designed to adjust systems, practices, and infrastructure to minimize the damage caused by current or anticipated impacts of climate change.

The partnership is a strategic step towards SBI's goal of achieving a green portfolio constituting 7.5-10 per cent of its domestic gross advances by 2030.

Additionally, it will also enable the bank to provide competitive financing solutions that would further strengthen India's green transition drive, it said.

The collaboration allows SBI to leverage AFD's expertise in climate finance and align with global sustainability frameworks. This includes support for innovative green technologies, project structuring, and ESG integration to ensure measurable environmental and social impact.

One of the SBI Senior Officials stated, "The Bank has been raising LoCs from MDBs and DFIs and deploying the funds to support specific green/sustainable activities."

"Through this collaboration with AFD, we are not only advancing our green finance roadmap but also enabling impactful climate solutions across India. This partnership reflects our unwavering commitment to sustainability and the vision of Viksit Bharat by 2047," the senior SBI official was quoted in the statement.

- ANI

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Reader Comments

P
Priya S
Great initiative! But I hope this funding actually reaches small and medium enterprises who want to go green. Often these big loans only benefit large corporations. The real change happens at grassroots level.
A
Aditya G
Finally some concrete action on climate finance! 🇫🇷🤝🇮🇳 French collaboration in green tech could be game-changing for India. Hope this leads to more affordable renewable energy options for common people.
S
Sarah B
While this is a positive step, I'm concerned about the transparency in fund utilization. SBI should create a public dashboard showing exactly which projects get funded and their environmental impact metrics. Accountability is key!
Nikhil C
Good move! But 100 million euros is just a drop in the ocean for a country of our size. Hope this is just the beginning and more such partnerships follow. Our solar and wind energy sectors need massive investment.
K
Kavya N
Love that this is happening through GIFT City! 🎯 Making India a global financial hub while promoting sustainability. Perfect alignment with our development goals. More power to such initiatives!

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