World Bank Backs India's Solar Mission: SBI Gets $197M Guarantee for Rooftop Solar

• World Bank's MIGA provides $197.67 million guarantee to refinance a $500 million World Bank loan to SBI.
• Funding aims to boost grid-connected rooftop solar systems for commercial and industrial users in India.
• This initiative supports India's 2070 net-zero carbon emissions target and expands SBI's green financing portfolio.
• The program, launched in 2016, has already installed 1004 MW of rooftop solar capacity.
• Citibank acts as sole lender, reducing SBI's borrowing costs and diversifying funding sources.