The program targets small-scale green projects, with a notable 50% allocated to India, underscoring the country’s substantial MSME sector and its potential for green transformation. Building on the success of its predecessor, which supported 11 MSME lenders in countries like India, Vietnam, and Cambodia, this second green basket bond aims to extend its impact by including new MSME lenders previously not covered.
Samir Abhyankar, Managing Director and Head of the Financial Services Group at BII, highlighted the significance of empowering smaller financial institutions that serve MSMEs. He emphasized, “This partnership demonstrates our ongoing commitment to promoting sustainable development in climate-vulnerable regions through the MSME sector.”
The bond will finance a wide range of green projects relevant to small businesses, including renewable energy, energy efficiency, clean transportation, green buildings, and sustainable agriculture. This broad focus enables MSMEs across diverse sectors to access green financing and contribute to efforts in climate change mitigation.
Yvan Renaud, CEO of Symbiotics Investments, expressed optimism about the bond’s potential to mobilize further investment in MSME-led green initiatives, stating, “We anticipate that this second green basket bond will attract additional capital for similar projects, recognizing the crucial role of small businesses in addressing climate change.”
Amid global efforts to meet climate targets, the role of MSMEs in promoting sustainable practices is increasingly pivotal. This financial instrument not only supports the green transition of small businesses but also fosters inclusive economic growth across developing nations.
British International Investment (BII), the UK’s development finance institution, has committed USD 75 million to a second green basket bond, marking a significant initiative for Micro, Small, and Medium Enterprises (MSMEs) in developing nations. Arranged by Symbiotics Investments, this funding aims to boost green financing specifically tailored for MSME lenders across Africa, South Asia, and Southeast Asia.
The program targets small-scale green projects, with a notable 50% allocated to India, underscoring the country’s substantial MSME sector and its potential for green transformation. Building on the success of its predecessor, which supported 11 MSME lenders in countries like India, Vietnam, and Cambodia, this second green basket bond aims to extend its impact by including new MSME lenders previously not covered.
Samir Abhyankar, Managing Director and Head of the Financial Services Group at BII, highlighted the significance of empowering smaller financial institutions that serve MSMEs. He emphasized, “This partnership demonstrates our ongoing commitment to promoting sustainable development in climate-vulnerable regions through the MSME sector.”
The bond will finance a wide range of green projects relevant to small businesses, including renewable energy, energy efficiency, clean transportation, green buildings, and sustainable agriculture. This broad focus enables MSMEs across diverse sectors to access green financing and contribute to efforts in climate change mitigation.
Yvan Renaud, CEO of Symbiotics Investments, expressed optimism about the bond’s potential to mobilize further investment in MSME-led green initiatives, stating, “We anticipate that this second green basket bond will attract additional capital for similar projects, recognizing the crucial role of small businesses in addressing climate change.”
Amid global efforts to meet climate targets, the role of MSMEs in promoting sustainable practices is increasingly pivotal. This financial instrument not only supports the green transition of small businesses but also fosters inclusive economic growth across developing nations.
hii Aditi Sahu this side..
As an author and writer specializing in investment and finance , I am dedicated to delivering insightful articles and news stories that inform and engage the investment community . My focus is on providing timely and relevant content that covers market trends , innovative strategies , and key financial development . My goal is to equip investors with the knowledge and insights needed to make informed decisions and succeed in a dynamic financial environment.
