State Bank of India (SBI) stated it has accomplished a $1 billion Syndicated Social Loan Facility which is important for SBI and the Indian ESG financing market.
It is the biggest ESG loan by a business financial institution in the Asia Pacific and the second-largest social loan globally, SBI stated in an announcement.
The facility of $1 billion was organized by way of MLABs, MUFG Bank, and Taipei Fubon Commercial Bank Co. Ltd.
MUFG and Taipei Fubon Commercial Bank are Joint Social Loan Coordinators whereas MUFG is the Lead Social Loan Coordinator for this transaction.
Dinesh Khara, Chairman, SBI stated, “As a responsible and sustainable organisation, we are committed to conducting our business operations with the highest standards of Environmental, Social, and Governance (ESG) practices.”
“Issuance of our first social loan is an embodiment of our commitment to ESG driven by our belief that our long-term success depends not only on our financial performance but also on our ability to make a positive impact on the environment, on society, and on our stakeholders,” he stated.
This inaugural ESG transaction underscores SBI’s longstanding dedication to supporting inexperienced and social tasks in India, the financial institution stated.
