State Bank of India, or SBI, has signed a line of credit agreement of EUR 100 million with Agence Française de Développement, or AFD, at its GIFT City branch at Gandhinagar.
SBI said the funds will be used for two purposes. First, for climate mitigation actions that aim to reduce greenhouse gas emissions and slow global warming. Second, for climate adaptation measures designed to minimize damage from the current and future impacts of climate change by adjusting systems, practices, and infrastructure.
By empowering these measures, the collaboration strives to advance India’s transition to a low-carbon economy while enhancing resilience to climate-related risks, SBI said in a press release.
The partnership is a strategic step towards SBI’s goal of achieving a green portfolio constituting 7.5-10 percent of its domestic gross advances by 2030, it said.
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, SBI said in the statement.
