SBI, AFD Sign €100 Million Credit Line to Boost Green Financing in India

The State Bank of India (SBI), the country’s largest lender, on Saturday announced that it has signed a Line of Credit agreement worth EUR 100 million with French development agency Agence Française de Développement (AFD) at its GIFT City branch in Gandhinagar.

According to an SBI statement, the funds raised through this partnership will be channelled into climate mitigation projects aimed at reducing greenhouse gas emissions, as well as climate adaptation measures designed to strengthen infrastructure and practices against the adverse impacts of climate change.

The collaboration is expected to accelerate India’s transition towards a low-carbon economy, while enhancing resilience to climate-related risks. SBI said the agreement underscores its commitment to financing sustainable projects and advancing India’s climate action agenda.

Through this initiative, SBI and AFD aim to contribute to India’s long-term strategy for green growth, aligning with global efforts to combat climate change and achieve the targets set under the Paris Agreement.