Symbiotics Investments launches $7.5 million green bond issue in India

A new $7.5 million fund has been launched, according to Symbiotics Investments, a top provider of green bond finance and investment solutions.

A $7.5 million green bond issued by Namdev Finvest Private Limited (NFPL), an NBFC in Rajasthan, India, has received the support of Symbiotics Investments.

The funds will be entirely used toward Namdev Finvest Private Limited’s four-year, senior secured loan in local currency. The bond is a component of the $7.5 million green basket bond program created by Symbiotics in collaboration with the UK’s development finance organization, British International Investment (BII).

Symbiotics Investments launches $7.5 million green bond issue in India

Benefits – Symbiotics Investments launches $7.5 million green bond issue in India

Solar, wind, and energy-efficient bond projects will all be included in the fund’s investment portfolio. The fund’s objective is to hasten the implementation of green bonds and sustainable energy projects across the nation.

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According to Symbiotics Investments CEO Michael Eckhart, “This financing will allow us to increase our reach and have a bigger influence on the implementation of green bond projects.” “We are dedicated to accelerating the shift to a clean energy economy, and this fund will be a critical component of that endeavor,” the statement reads.

Prashant Bhardwaj, Regional Manager for South Asia, Symbiotics, said, “This Green Bond is a confirmation of Symbiotics Investments’ strategy to make sustainability, social and green bonds accessible for smaller issuances in emerging and frontier markets.

The issuance of this bond is fully aligned with our mission to foster sustainable development in emerging and frontier economies, and we are excited to nurture and grow this segment of the green bond market even further.”

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Being a lender with a focus on MSMEs, NFPL was a pioneer in green financing in Rajasthan. They want to finance their clients’ initiatives for renewable energy and energy efficiency using the money from this green bond. This is an addition to their current investment of around $10 million for NFPL.

The managing director and chief executive officer of Namdev Finvest Pvt Ltd, Jitendra Tanwar, said: “We sincerely cherish our cooperation with Symbiotics. This bond will help us achieve our goal of helping underrepresented clients while advancing the cause of financing climate-efficiently.

Namdev Finvest Private Limited is a Rajasthan-based NBFC setup by Jitendra Tanwar.