NEW DELHI, March 7: India’s largest lender State Bank of India (SBI) on Saturday launched a $500 million (about Rs 4,597 crore) ‘Syndicated Social Term Loan Facility’ focused exclusively on women empowerment with a greenshoe option, which is a milestone for both the bank and the global ESG financing landscape.
The PSU bank said the facility is aimed at accelerating social impact by promoting gender equality and supporting initiatives that reduce the gender gap.
“It contributes to the United Nations’ Sustainable Development Goal (SDG) 5 – ‘Achieve Gender Equality and Empower All Women and Girls’,” it said.
C.S. Setty, Chairman of SBI, said, “On this International Women’s Day, we are proud to announce this landmark social loan, reflecting our deep commitment to fostering women’s empowerment as a cornerstone of sustainable development”.
The SBI chairman also stated that true progress depends not only on economic growth but also on our ability to drive positive social change, empower women, and build an inclusive society for all stakeholders.
This is the first transaction of its kind by SBI, expected to be the largest gender-themed loan globally, underscoring India’s growing role in sustainable finance.
SBI shares on Friday ended at Rs 1,139.80, down 2.5 per cent, on the NSE.m (IANS)
