SIDBI join hands with French Development agency for greening finance

New Delhi, Nov 29 (KNN) Small Industries Development Bank of India (SIDBI) has partnered with Agence Française de Développement (AfD) with an aim to strengthen the cooperation on climate change and greening finance.

AfD is a French public development finance institution which intends to support both India’s international commitments on reducing greenhouse gases emissions and to ensure economic and social development of the country.

This pact will explore the potential sustainable finance facility towards green finance and other projects related to greening SIDBI financial system.

In turn it will aim to boost the implementation of the Paris Agreement and the Net Zero 2070 objectives. 

The signatories will define potential areas of cooperation and business development related to the Green Indian Financial System aka the GIFS Initiative.

It will focus on developing projects whose objective is to green the financial system in India and other projects related to sustainable finance, and provide consultancy services for technical assistance.  (KNN Bureau)