365telugu.com online news,Gujarat, September 1st, 2025 :The State Bank of India (SBI), the country’s largest and most trusted financial institution, has signed a Line of Credit (LoC) agreement worth EUR 100 million with Agence Française de Développement (AFD) at its GIFT City branch.
The partnership aims to channel funds into climate mitigation initiatives—focused on reducing greenhouse gas emissions—and climate adaptation projects that enhance resilience against the adverse impacts of climate change. These efforts align with India’s broader commitment to a low-carbon economy and sustainable development.
With this collaboration, SBI takes a significant step toward its target of building a green portfolio comprising 7.5–10% of its domestic gross advances by 2030. The funds will support competitive green financing solutions, fostering innovation in renewable energy, sustainable infrastructure, and eco-friendly technologies.
Beyond financing, the collaboration enables SBI to leverage AFD’s global expertise in climate finance, ESG integration, project structuring, and innovative green technologies, ensuring measurable social and environmental outcomes.
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Commenting on the agreement, an SBI senior official said:“The Bank has been raising Lines of Credit from MDBs and DFIs to deploy funds for sustainable initiatives. Through this partnership with AFD, we are not only reinforcing our green finance roadmap but also enabling impactful climate solutions across India. This reflects SBI’s strong commitment to sustainability and the national vision of Viksit Bharat 2047.”
This agreement marks a strategic milestone in India’s journey towards a greener future, aligning global expertise with domestic ambition.