GCF Grants $215.6M to SIDBI for MSME Climate Initiatives.
Banking & Finance
Green Climate Fund (GCF) has approved US$ 215.6 million in its 39th Board meeting held in Songdo, South Korea for implementing SIDBI’s Financing Mitigation and Adaptation Projects (FMAP) in Indian MSMEs.The programme aims to support the Micro, Small and Medium Enterprises (MSMEs) in India to adopt low emission and climate resilient technologies, thereby contributing to the Net Zero targets of the country.The Green Climate Fund is a fund for climate finance that was established within the framework of the United Nations Framework Convention on Climate Change.
The fund will help MSMEs reduce carbon footprints and enhance climate resilience.
The initiative aligns with India's national climate action plan for sustainable development.
Chairman: Sivasubramanian Ramann
Headquarters: Lucknow, India
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