For climate action initiatives, SBI and the EIB will sign a 200 million euro loan
The European Investment Bank (EIB) and State Bank of India (SBI) will ink a 200 million Euro Line of Credit (LOC) for climate change initiatives in India.
The European Investment Bank (EIB) and State Bank of India (SBI) will ink a 200 million Euro Line of Credit (LOC) for climate change initiatives in India.
State Bank of India (SBI) said on Thursday that it would establish a 200 million euro (about Rs 1,800 crore) line of credit (LOC) with the European Investment Bank (EIB) to finance national climate action initiatives.
The deal will be inked at the bank's IFSC GIFT City branch in Ahmedabad on December 21, according to a regulatory filing from SBI. The deal will be inked at the bank's IFSC GIFT City branch in Ahmedabad on December 21, according to a regulatory filing from SBI.
It states that as soon as the required clearances are received, the loan agreement will be active.
In order to support solar projects in the nation, SBI and the German development bank KfW earlier this month inked a letter of intent for Euro 70 million, or around Rs 630 crore.
Supporting solar photovoltaic (PV) installations in India is the goal of \LOC.
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