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SBI raises USD one billion loan from JBIC

Thursday, 01 Apr 2021
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The State Bank of India (SBI) has raised USD one billion from the Japan Bank for International Cooperation (JBIC) to extend loans to supply a chain of Japanese automobile industry in India. 
SBI has inked a loan agreement with JBIC, taking the total facility to USD two billion. It has inked similar agreement for USD one billion in October 2020. 
The loan is in the form of refinance against the funding support provided to manufacturers, suppliers and dealers of Japanese automobiles in India. These businesses are recovering from reduced sales of automobiles due to COVID-19. The financing will assist the government of India’s Make in India initiative.


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