SBI inks $277 million pact with Germany based KfW bank

State Bank of India (SBI) has signed a loan agreement worth of $277 million (about Rs 1,958 crore) with Kreditanstalt für Wiederaufbau (KfW) German development bank for establishing an energy-efficient housing programme in India. The programme shall be part of the Indo-German Development Co-operation, guided by the 2030 Agenda for Sustainable Development.

Under the programme, both builders and homebuyers shall be financed for developing/purchasing energy-efficient residential projects that achieve at least 25 per cent energy savings in comparison to standard reference buildings. The arrangement of the loan and the grant facilities was facilitated by SBI’s investment banking subsidiary SBI Capital Markets Ltd.

Static/Current Takeaways Important For IBPS SO 2019:

  • SBI Chairperson: Rajnish Kumar; Headquarters: Mumbai; Founded: 1 July 1955.

Source: The Economic Times

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