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BII commits US$75mn to green projects

BII commits US$75mn to second Green Basket Bond with Symbiotics Investments to finance small-scale green projects in Africa, South, and South-East Asia. (Image source:

British International Investment (BII), the UK's development finance institution and impact investor, has committed US$75mn to the second Green Basket Bond, arranged by Symbiotics Investments, a leading platform for emerging markets and financial lending

This green lending program aims to increase financing for small-scale green projects across Africa, South, and South-East Asia, with a particular emphasis on India. It will support new MSME lenders not included in the first Green Basket Bond.

Building on the success of the initial Green Basket Bond issued in 2022, this initiative will utilise Symbiotics' global network and BII's 76-year legacy as an impact investor to support an additional 10 to 15 MSME lenders who require smaller investment capital than BII typically provides directly.

These MSME lenders will focus their lending efforts on small businesses that usually struggle to secure funding, especially for green projects. As with the first Green Basket Bond, the funding will be directed toward green projects in areas such as renewable energy, energy efficiency, clean transportation, green buildings, agriculture, forestry, and more.

Samir Abhyankar, managing director and head of financial services, British International Investment, said, “Partnering with Symbiotics on a second green basket bond signifies a continued commitment to empowering smaller financial institutions and supporting sustainable development in climate-vulnerable regions. Channelling capital to where it is most needed, not only supports local businesses and projects but also contributes to global efforts in building resilience against climate change. The expansion of this programme is a testament to the positive impact and success of the initial partnership. We look forward to continuing working with Symbiotics to further efforts to mobilise more private capital into this space.”

Yvan Renaud, CEO of Symbiotics Investments, added, “We are very grateful to British International Investment for partnering with Symbiotics on this second green basket bond. We share the view that financing dedicated MSME lenders and reaching smaller local businesses and projects strongly contributes to the effectiveness of climate finance. We hope that this second green basket bond will have a catalytic effect on the mobilisation of capital for similar projects that play a key role in successfully tackling climate change and its consequences.”

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