Gift City, Aug. 30 -- State Bank of India (SBI) has signed a Line of Credit agreement of EUR 100 million with Agence Francaise de Developpement (AFD) at its GIFT City branch.

According to a statement from the Indian lender, the funds mobilised through this partnership will be utilised in Climate Mitigation Actions aimed at reducing greenhouse gas emissions to slow down global warming and climate adaptation measures designed to adjust systems, practices, and infrastructure to minimize the damage caused by current or anticipated impacts of climate change.

The partnership is a strategic step towards SBI's goal of achieving a green portfolio constituting 7.5-10 per cent of its domestic gross advances by 2030.

Additionally, it will also ena...