European Investment Bank

State Bank of India (SBI) on Thursday said it will sign a 200 million euro (about Rs 1,800 crore) Line of Credit (LoC) with the European Investment Bank (EIB) for supporting climate action projects in the country. The agreement will be signed on December 21 at the bank's IFSC Gift City Branch in Ahmedabad, SBI said in a regulatory filing. The loan document will become operational, subject to necessary approvals, it said. Earlier this month, SBI signed a 70 million euro (about Rs 630 crore) LoC with German Development Bank KfW for promoting solar projects in the country. The LoC is aimed at supporting Solar Photovoltaics (PV) projects in India.

The EIB had joined India Hydrogen Alliance in February

Luxembourg-based European Investment Bank (EIB) on Thursday said it is keen to extend finance of 1 billion euros for the development of green hydrogen and renewable energy projects in India. In this regard, EIB Vice-President Kris Peeters will make a four-day business visit to India this week to strengthen cooperation with the Indian public and private sectors and discuss EIB support for clean energy investment and its transport in the country, the bank said in a statement. The European Investment Bank (EIB) is the lending institution of the European Union member states. "The aim of the visit is to confirm the EIB's commitment to future investment under the EU-India Connectivity Partnership, in support of the European Green Deal and the EU Global Gateway strategy...," the statement said. Peeters will visit the G20 Infrastructure Investors Dialogue (IID), where he will meet banking leaders. The G20 IID is an official G20 event organised during the third meeting of finance ministers

The government commits to green hydrogen development, encourages collaboration with private sector as global demand for hydrogen is expected to reach 200 million tons by 2030

Debt-for-nature swaps, which help countries cut their debt in return for conservation commitments

Despite the challenges of investing in an economic recovery after the pandemic, EIB Global, the development arm of the European Investment Bank, financed EUR 10.8 billion in 2022

"Potential disruption to the forex markets can be serious"

Last week the lender tied up its second Euro 150 million funding with German govt-owned KFW as part of solar partnership with India

With this, it has increased policy rate by 1.5 per cent, the highest in a decade

In the UK, retail sales fell more than expected, in another sign that the economy is sliding into recession as the cost-of-living crisis squeezes households' disposable spending

Ukraine will receive nearly 1.6 billion euros (about $1.62 billion) from the European Investment Bank (EIB), Ukrainian Prime Minister Denys Shmyhal announced.

Circulate Capital, the Singapore-based investment management firm announced on Tuesday that the European Investment Bank (EIB) has committed up to $20 million for fighting plastic pollution

India and European Investment Bank (EIB) on Thursday signed a finance contract for the first tranche loan of Euro 250 million for the Agra Metro Rail Project.

SBICap Ventures has already got commitment from European Investment Bank (EIB) for about Rs 215 crore.

The European Investment Bank and the country's largest lender SBI on Friday entered into a pact

European Investment Bank is providing Euro 650 million for Kanpur Metro

Agreement is step towards 'sustained relation' with European institute, says Indian government

The comments come as Hoyer's native Germany, Europe's largest economy, is experiencing a steep manufacturing slump driven by trade tensions, weak global growth and Brexit uncertainty.

EU lawmakers' decision does not oblige the EIB to work with Iran, a move that could jeopardise its ability to raise money on US markets and so have far-reaching consequences for its operations

The loan agreement was formally exchanged at the 14th India European Union Summit