The State Bank of India (SBI), the country’s largest lender, has signed a €100 million (₹900 crore) credit line agreement with Agence Française de Développement (AFD), the French development agency. This collaboration aims to finance sustainable projects in India, with a strong focus on green energy, climate resilience, and sustainable urban development.
1. Purpose of the Agreement
The funding will support:
Renewable energy projects like solar and wind power.
Green infrastructure to promote eco-friendly urban growth.
Climate adaptation initiatives that align with India’s net-zero commitments.
2. Why It Matters
Boosts India’s green finance ecosystem by mobilizing international funding.
Strengthens India-France cooperation in climate action.
Supports India’s energy transition towards sustainable and low-carbon growth.
3. SBI’s Role in Green Finance
SBI has been at the forefront of funding renewable energy projects, electric mobility, and sustainable housing. With this agreement, SBI further cements its position as a key driver of green banking in India.
4. About AFD (Agence Française de Développement)
AFD is a French public financial institution that funds projects aimed at sustainable development and poverty reduction worldwide. In India, AFD has been actively supporting projects in clean energy, transport, and smart cities.
Conclusion:
The €100 million credit line agreement between SBI and AFD highlights India’s commitment to sustainable growth. By channeling funds into green projects, the partnership will play a crucial role in addressing climate challenges while driving economic development.
FAQ :
Q1: What is the purpose of SBI’s credit line with AFD?
To finance renewable energy and sustainable infrastructure projects in India.
Q2: How much funding is involved in the agreement?
The agreement is worth €100 million (₹900 crore).
Q3: Which sectors will benefit from this credit line?
Renewable energy, sustainable urban projects, and climate resilience initiatives.
Q4: What is AFD’s role in India?
AFD funds projects supporting sustainable development and climate action.
Q5: How does this deal help India’s climate goals?
It provides international funding to boost India’s net-zero emission targets.
Published on : 4th September
Published by : SMITA
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