Small Industries Development Bank of India (Sidbi) will sign an agreement with the Green Climate Fund in mid-May to support small businesses in adopting low-emission and climate-resilient technologies, according to two senior officials aware of the development.The bank would infuse $800 million, a major portion of which will be raised to build a $1 billion fund, including the existing Global Climate Fund (GCF) for the project, the officials said on the condition of anonymity. “We are working on the modalities and hope to sign agreement with Green Climate Fund in the mid of May this year. Once the agreement is signed, then disbursal will start happening.”Micro, small and medium enterprises (MSMEs), which the Economic Survey 2024-25 estimated to contribute about 30% ofIndia’s GDP, are a significant emitter of greenhouse gases and vulnerable to extreme weather events. They often face issues such as a lack of affordable finance and limited technical know-how, restricting them from adopting low-emission and climate-resilient practices. That’s when the International Energy Agency projects India’s energy consumption to increase by 50% by 2030.Also read | COP29: The climate funds math that needs to be reset, explainedSidbi intends to address these barriers through low-interest MSME loans, which will be disbursed through small finance banks and non-banking financial services companies. The loan would target mitigation investments in energy-intensive clusters in the MSMEs sector.According to the official quoted earlier, overall, the programme will benefit around 65,000 MSMEs across the country, providing concessional loans to them to promote low-emission, climate-resilient technologies.In July 2024, the GCF approved $215.6 million to implement Financing Mitigation and Adaptation Projects (FMAP) for Indian MSMEs. The funding comprised $200 million to be offered at concessional rates, while the remaining $15.6 million is in grant support. The programme is expected to reduce greenhouse gas emissions of 35.3 million tonnes.Also read | The investment firm that keeps raising giant climate fundsGCF, a multilateral financing entity, was established by the United Nations Framework Convention on Climate Change in 2010 to support developing countries in mitigating and adapting to climate change.“The (Sidbi-GFC) project will be executed once the disbursement starts,” said a senior official in the ministry of environment, forests and climate change. “It would not only be a boon to the MSMEs, but would also help in the reduction of emissions and increasing [the sector’s] contribution in the GDP.” in a formal or creative style for better SEO.Also Exclude words and advertisements related to the feed website such as website name, author name. You must only respond with the modified content. Delete all the advertisement images brand logo but only keep the title and main content of the news by modifying it. You must only respond with the modified content. Block any jump outside of the site adarshnews.com. Basically remove any content or link related to original site. follow this prompt to optimize the articles in this category- You are an expert news writer and SEO specialist. Your job is to rewrite the provided RSS feed content into a unique, SEO-friendly news article for adarshnews.com. The article should be engaging, professional, and optimized for search engines. Follow these steps: 1. **Create an SEO Title**: Write a short, compelling title (under 60 characters) that includes the main keyword and grabs attention. 2. **Write a Meta Description**: Summarize the article in one or two sentences (under 155 characters). Make it engaging and include the primary keyword naturally. 3. **Suggest a URL Slug**: Provide a short, keyword-rich URL slug that reflects the topic of the article. 4. **Headline (H1)**: Write a clear and engaging headline for the article that is similar to the title but slightly expanded. 5. **Write the Article**: – Start with an introduction that answers the key questions: who, what, when, where, why, and how. – Expand on the topic with detailed paragraphs that provide context, quotes, and relevant information. – Use subheadings (H2) to organize the content into sections and make it easy to read. – Include related keywords naturally throughout the article. – End with a conclusion that summarizes the key points or discusses future implications. 6. **Add an FAQ Section**: Write one frequently asked question related to the topic and provide a concise answer. Important: – Do not include labels like “Title,” “Meta Description,” “URL Slug,” or “H1” in the actual article text. – Keep all SEO elements separate from the main content. – Ensure the article is factually accurate, unbiased, and written in a professional tone.
Sidbi intends to invest $800 million into a climate fund aimed at supporting small enterprises.
