SIDBI partnered with AFD, France to scale up green finance solutions

by Psu Connect
Date: 13-02-25

Both the partners are committed to fostering sustainable economic development and enhancing climate resilience in emerging markets, the statement said.

The Small Industries Development Bank of India (SIDBI) has partnered with AFD, the French lender, which will provide a credit line of USD 100 million. SIDBI will use these resources to enhance its green finance solutions for Indian micro, small, and medium enterprises (MSMEs), as stated in an official announcement.

AFD will provide a credit line of USD 100 million to SIDBI to expand access to affordable financing for MSMEs investing in energy-efficient technologies, renewable energy solutions, and climate-friendly business practices, it said.

Both the partners are committed to fostering sustainable economic development and enhancing climate resilience in emerging markets, the statement said, adding that the tie-up leverages AFD's climate financing strengths and SIDBI's MSME understanding.

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"The USD 100 million credit line signed with SIDBI marks a crucial step in empowering MSMEs to invest in sustainable solutions. MSMEs have to play a major role in India's commitment to achieving carbon neutrality by 2070," AFD's country director, Lise Breuil, said.

"This collaboration gives fillip to our shared vision of greener, more inclusive, responsive & enterprising economy," SIDBI's chairman and managing director Manoj Mittal said.

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