The proceeds of $4.6 million in local currency equivalent will be fully allocated towards climate-smart agriculture
Symbiotics, a leading market access platform for impact investing, with Samunnati Financial Intermediation & Services has launched Green Bond whereby the proceeds of $4.6 million in local currency equivalent are fully allocated towards climate-smart agriculture.
Anilkumar SG, Founder and CEO, Samunnati said, “Samunnati is working with FPOs on the supply side and Agri Enterprises on the demand side across 22 states in India. We are delighted to partner with Symbiotics on our first Green Bond. This will help us further offer customised 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 Green Bond will enable Samunnati to strengthen the climate resilience across agri-sector, including that of small and marginal farmers in India.”
The bond is issued via Symbiotics sponsored bond issuance platform under its sustainability, social and green bond framework, which was certified in December 2019 by DNV GL. The Green Bond will be listed on the Luxembourg Green Exchange within the Green Bond section. The proceeds are to be fully used towards a three-year tenor, senior, local currency loan facility to Samunnati.
