Question
What is the primary aim of the Avaana Sustainability
Fund (ASF) project approved by GCF for SIDBI?Solution
• Development bank SIDBI has secured approval from the Green Climate Fund (GCF) for its first anchored project, Avaana Sustainability Fund (ASF), valued at $120 million. • The closure was announced at the 38th board meeting of the GCF, which will invest $24.5 million in the fund, SIDBI said. • The primary aim of the ASF project is to invest in early-stage companies harnessing technology-led innovation to spur climate solutions and sustainability in the country. Learn Along: About SIDBI Set up: 2nd April 1990 CMD: Sivasubramanian Ramann Headquarters: Lucknow
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