SIDBI secures GCF approval for $120M Avaana Sustainability Fund to invest in tech-driven climate solutions in India.

Development bank SIDBI has secured approval from the Green Climate Fund (GCF) for its first anchored project, the Avaana Sustainability Fund (ASF), worth $120 million. The project aims to invest in early-stage companies using technology-led innovation to spur climate solutions and sustainability in India. GCF, the world's largest climate fund, will invest $24.5 million in the fund. Anticipated outcomes include significant contributions to climate change mitigation, adaptation, and the enhancement of resilience in vulnerable sectors of the economy.

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The Hindu

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Times of India

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