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New Delhi: Country’s leading lender SBI Saturday announced the launch of a $500 million syndicated social term loan facility, focused exclusively on women empowerment with a greenshoe option, on the eve of International Women’s Day.

This syndicated transaction is a milestone for SBI and the global ESG financing landscape, for the noble cause of women empowerment, the bank said in a statement.

This financing is focused on accelerating social impact and demonstrates SBI’s commitment to reduce ‘the gender gap’ and contributes meaningfully to United Nations’ Sustainable Development Goal (SDG) 5 — ‘Achieve Gender Equality and Empower all Women and Girls’.

On the occasion, SBI Chairman C S Setty said, “On this women’s day, we are happy to announce that as a responsible organisation, we are deeply committed to fostering women empowerment as a cornerstone of sustainable development.”

This landmark social loan embodies the bank’s dedication to Environmental, Social, and Governance (ESG) principles, with a sharp focus on creating opportunities for women, he said.

“We believe 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,” he added.

The transaction is the first of its kind by SBI, aimed at supporting gender equality and inclusive economic growth, and it is expected to be the largest gender-themed loan globally, representing a landmark initiative in sustainable finance by an Indian financial institution, the lender said.

PTI

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