MUMBAI, 28 July 2021: Symbiotics, the leading market access platform for impact investing, has arranged with Samunnati Financial Intermediation & Services Private Limited its first green bond whereby the proceeds of USD $4.6 million in local currency equivalent are fully allocated towards climate smart agriculture.
Speaking on this development, Symbiotics investments head Daniel Schriber said, “This green bond issuance with Samunnati underlines its commitment to sustainable agricultural practices. – Its deep understanding of the sector allowed us to earmark the proceeds of this bond to very specific projects under the agriculture, forestry and land use category.”
Samunnati founder and CEO Anilkumar SG said, “We are delighted to partner with Symbiotics on our first Green Bond. This will help us further offer customized financial solutions to entities interested in adopting climate smart and green solutions, using social and trade capital, to FPOs and SMEs, enabling the agri value chain to operate at a higher equilibrium.”
“The bond will enable Samunnati to strengthen the climate resilience across agri-sector, including that of small and marginal farmers in India,” Anilkumar added.
Samunnati’s green loans follow Climate Bond Initiative categorization, in accordance with the Green Bond Principles of Climate Smart Agriculture. The loans are classified under three type of activities: (i) food security, (ii) climate resilience and (iii) greenhouse gas management.
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