SBI obtains $ 1 billion ESG loan from Taiwan and Japan

1 Mar 2023 , 10:25 AM

The country’s largest bank, State Bank of India, has completed a $1 billion syndicated social loan facility in collaboration with Japanese and Taiwan-based lenders.

According to SBI, this is the largest loan linked to ESG (environmental, social, and governance framework) taken by a commercial bank in Asia-Pacific and the second-largest social loan globally.

This is also SBI’s first social loan and its first syndicated loan in five years.

SBI chairman Dinesh Khara expressed that their dedication to ESG is demonstrated by the launch of their inaugural social loan. He believes that their enduring prosperity is not only based on their financial achievements but also on their capability to create a beneficial influence on the environment, society, and stakeholders.

The $1 billion facility was arranged by Japan’s MUFG Bank and Taiwan’s Taipei Fubon Commercial Bank Co. The joint co-ordinators are MUFG and Taipei Fubon Commercial Bank, with MUFG serving as the lead loan co-ordinator for this transaction.

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