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SBI raises $1 billion via syndicated social loan for further lending

The funds will be used to further lend to microfinance institutions and self-help groups, a senior official at SBI, who declined to be named, told Reuters

SBI, state bank of India
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Reuters Mumbai
The State Bank of India , the country's top lender, on Tuesday said it raised $1 billion via a syndicated social loan from global banks for further lending to certain kinds of socially impactful businesses in India.
 
The funds will be used to further lend to microfinance institutions and self-help groups, a senior official at SBI, who declined to be named, told Reuters.
 
The loan facility was arranged through Japan-based MUFG Bank and Taiwan-based Taipei Fubon Commercial Bank Co. Ltd, SBI said in a release on Tuesday.
 
This is the largest overseas loan linked to environmental, social and governance (ESG)

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First Published: Feb 28 2023 | 2:29 PM IST

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