India's Green Investment Revolution: Launch of Avaana Sustainability Fund
Financial Services Secretary M Nagaraju announced the release of funds to the Avaana Sustainability Fund, supported by the Green Climate Fund and Sidbi. This initiative targets investments in climate-resilient businesses. Additionally, banks have disbursed significant loans, boosting economic growth, while a new Centre for Financial Services was inaugurated.
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In a significant move towards promoting sustainable business practices, Financial Services Secretary M Nagaraju announced the release of the first tranche of funds to the Avaana Sustainability Fund (ASF). This initiative, supported by the Green Climate Fund and anchored by Sidbi, aims to foster investments in low-carbon and climate-tech startups.
The Department of Financial Services highlighted the importance of extending the green agenda to rural enterprises. In line with the vision of Viksit Bharat, Nagaraju praised efforts to catalyze climate-resilient economic growth.
On a related note, over Rs 74,000 crore in loans have been disbursed by banks through PSBLoansIn59Minutes.com, providing swift financial empowerment to MSMEs and individuals. Additionally, the Centre for Financial Services at MDI Gurgaon was inaugurated to strengthen knowledge and collaboration in the financial sector.
(With inputs from agencies.)
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