Small Industries Development Bank of India (SIDBI) has secured approval from the Green Climate Fund (GCF) for its first anchored project, Avaana Sustainability Fund (ASF), valued at USD 120 million.

Banking & Finance

Small Industries Development Bank of India (SIDBI) has secured approval from the Green Climate Fund (GCF) for its first anchored project, Avaana Sustainability Fund (ASF), valued at USD 120 million. The closure was announced at the 38th board meeting of the GCF, which will invest USD 24.5 million in the fund. The primary aim of the ASF project is to invest in early-stage companies harnessing technology-led innovation to spur climate solutions and sustainability in the country. This is the first project anchored by SIDBI including the first secured for the country in the past few years.


      The Green Climate Fund is a key component of the historic Paris Agreement and also the world's largest climate fund.

      The bank will also liaise with key stakeholders and ministries including the department of financial services.

     

 

     


Small Industries Development Bank of India (SIDBI)

Chairman & Managing Director- Sivasubramanian Ramann
HQ- Lucknow
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