Sidbi gets $24.5 M from Green Climate Fund for its Avaana Sustainability Fund

Small Industries Development Bank of India (Sidbi) has received USD 24.5 million from Green Climate Fund (GCF) for its maiden anchored project `Avaana Sustainability Fund (ASF)' valued at USD 120 million.The primary aim of the ASF project is to invest in early-stage companies harnessing technology-led innovation to spur climate solutions and sustainability in India.GCF, formed from the Paris Agreement, is the world's largest climate fund.