Kamal Ghorui
The State Bank of India (SBI) on Saturday announced the launch of a $500 million syndicated social term loan facility focused exclusively on women’s economic empowerment, with a greenshoe option, ahead of International Women’s Day.In a statement, the country’s largest lender said the transaction marks a milestone for both SBI and the global ESG financing landscape, aimed at advancing the cause of women empowerment, PTI reported.The financing initiative is designed to accelerate social impact while reinforcing SBI’s commitment to reducing the gender gap and supporting the United Nations’ Sustainable Development Goal (SDG) 5 — “Achieve Gender Equality and Empower all Women and Girls.”Speaking 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.”He added that the social loan reflects the bank’s broader focus on Environmental, Social and Governance (ESG) principles, particularly in expanding economic opportunities for women.“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,” Setty 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.SBI said the transaction is the first of its kind by the bank and is aimed at supporting gender equality and inclusive economic growth.The lender also noted that the facility is expected to become the largest gender-themed loan globally, representing a significant milestone in sustainable finance by an Indian financial institution.
