New Delhi: UK-based development finance institution British International Investment on Tuesday said it has committed USD 75 million (about Rs 625 crore) for the second green basket bond organized by emerging markets access platform and financial lender Symbiotics Investments. .
The green loan program will increase financing of small-scale green projects in Africa, South and South-East Asia through MSME lenders, with 50 per cent of the financing earmarked for India, British International Investment (BII) said in a statement.
It will focus on supporting new MSME lenders not previously included in green basket bonds. It said the first Green Basket Bond supported 11 MSME lenders in India, Vietnam, Cambodia, Tunisia, Botswana, Kenya, Bangladesh and Nepal.
Sameer Abhyankar, Managing Director and Head of Financial Services Group, BII, said, “The partnership with Symbiotics on the second Green Basket Bond symbolizes our continued commitment to empowering small financial institutions and supporting sustainable development in climate-sensitive sectors. "
Like the first Green Basket Bond, financing will be provided to green projects spanning renewable energy, energy efficiency, clean transportation, green building, agriculture, forestry and other sectors, the statement said.
“We hope this second green basket bond will have a catalytic impact on mobilizing capital for similar projects that play a key role in successfully tackling climate change and its consequences,” said Yvon Renaud, CEO of Symbiotics Investments.
The green loan program will increase financing of small-scale green projects in Africa, South and South-East Asia through MSME lenders, with 50 per cent of the financing earmarked for India, British International Investment (BII) said in a statement.
It will focus on supporting new MSME lenders not previously included in green basket bonds. It said the first Green Basket Bond supported 11 MSME lenders in India, Vietnam, Cambodia, Tunisia, Botswana, Kenya, Bangladesh and Nepal.
Sameer Abhyankar, Managing Director and Head of Financial Services Group, BII, said, “The partnership with Symbiotics on the second Green Basket Bond symbolizes our continued commitment to empowering small financial institutions and supporting sustainable development in climate-sensitive sectors. "
Like the first Green Basket Bond, financing will be provided to green projects spanning renewable energy, energy efficiency, clean transportation, green building, agriculture, forestry and other sectors, the statement said.
“We hope this second green basket bond will have a catalytic impact on mobilizing capital for similar projects that play a key role in successfully tackling climate change and its consequences,” said Yvon Renaud, CEO of Symbiotics Investments.
