State Bank of India (SBI) on Thursday said it will sign a 200 million euro (about Rs 1,800 crore) Line of Credit (LoC) with the European Investment Bank (EIB) for supporting climate action projects in the country.
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The agreement will be signed on December 21 at the bank’s IFSC Gift City Branch in Ahmedabad, SBI said in a regulatory filing.
The loan document will become operational, subject to necessary approvals, it said.
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Earlier this month, SBI signed a 70 million euro (about Rs 630 crore) LoC with German Development Bank KfW for promoting solar projects in the country.
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The LoC is aimed at supporting Solar Photovoltaics (PV) projects in India.
