In Short : A €100 million credit line has been established by the State Bank of India (SBI) and the French Development Agency (AFD) with the goal of funding India’s renewable and sustainable energy initiatives. The program backs India’s low-carbon economy strategy.
Encouraging Innovation and Strategic Growth
Long-term financing alternatives for clean energy projects, such as wind, solar, and energy efficiency measures, will be made available by the credit line. This alliance increases India’s ability to build up green infrastructure and reflects a growing trend of international engagement in climate financing.
Impact and Significance of Clean Energy
It is anticipated that the program will lower carbon emissions, promote job creation in the renewable energy industry, and increase access to reasonably priced green financing. Additionally, it backs India’s ambitious goal of installing 500 GW of renewable energy by 2030.
About SBI and AFD
The largest public sector bank in India, State Bank of India (SBI), is essential to funding the nation’s sustainable energy and infrastructure projects.
The French public financial organization Agence Française de Développement (AFD) is committed to funding climate action and sustainable development initiatives across the globe.
