- This partnership with AFD reinforces SBI’s commitment to financing sustainable growth and achieving 7.5-10% green portfolio by 2030: SBI Representative
- The collaboration allows SBI to leverage AFD’s expertise in climate finance and align with global sustainability frameworks
NE BUSINESS BUREAU
GIFT CITY, GANDHINAGAR, GUJARAT, AUG 30
State Bank of India (SBI), the nation’s largest and most-trusted financial institution, has signed a Line of Credit agreement of EUR 100 million with Agence Française de Développement (AFD) at its GIFT City branch.
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. By empowering these measures, this collaboration strives to further advance India’s transition to a low-carbon economy while enhancing resilience to climate-related risks.
The partnership is a strategic step towards SBI’s goal of achieving a green portfolio constituting 7.5-10% 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.
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.
On this occasion, 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.”
