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YES Bank signs MOU with SIDBI

YES Bank has signed a Memorandum of Understanding with SIDBI under the Partial Risk Sharing Facility (PRSF) for financing Energy Efficiency Projects program. The pact is the latest endeavor in YES BANK’s continuing commitment towards financing and promoting clean energy projects.

 

The PRSF has been sponsored by the World Bank with the support of Global Environment Facility (GEF) and Clean Technology Fund (CTF). As the Project Execution Agency, SIDBI will extend the guarantee for securing up to 75% of the loan amount up to Rs. 15 Crores extended by YES BANK to the MSMEs under this program. YES BANK is the first bank to be empanelled as a participating financial institution (PFI) under this facility.

The facility is expected to provide credit guarantee to more than 500 Energy Service Company (ESCO) implemented Energy Efficiency projects, which would mobilize financing of the tune of USD 127 million.

 

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