SBI, KfW sign $277 mn agreement for energy-efficient housing programme

State Bank of India (SBI) has signed a loan agreement with KfW, the German development bank, for $277 million dollars (about Rs 1,958 crore) for establishing an energy-efficient housing programme in India. The facility has been signed after an agreement on financial cooperation between the two governments in October.

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The programme will be a part of Indo-German Development Cooperation which is guided by the 2030 Agenda for Sustainable Development. Under the programme, both builders and home buyers will be financed for developing and purchasing energy-efficient residential projects that achieve at least 25 per cent energy savings in comparison to standard reference buildings.