State Bank of India (SBI), the country’s largest lender, on Saturday said it has signed a Line of Credit agreement worth EUR 100 million with Agence Française de Développement (AFD) at its GIFT City branch in Gandhinagar to boost green financing.According to SBI, the funds raised under this partnership will support both climate mitigation projects aimed at cutting greenhouse gas emissions and climate adaptation measures to reduce the impact of current or future climate risks, PTI reported.“This collaboration strives to further advance India’s transition to a low-carbon economy while enhancing resilience to climate-related risks,” the bank said in a statement.The pact is part of SBI’s broader strategy to build a green loan portfolio comprising 7.5-10% of its domestic gross advances by 2030. The bank said the tie-up will also allow it to provide competitive financing solutions to strengthen India’s green transition.The collaboration will enable SBI to tap into AFD’s expertise in climate finance and global sustainability frameworks. This includes support for project structuring, innovative green technologies, and ESG integration, ensuring measurable environmental and social impact.
