State Bank of India has signed a loan agreement for 100 million euro (about Rs 700 crore) with European Investment Bank for lending to private businesses in the country. This will be the third tranche of a total sanctioned loan of 200 million euro by EIB. The bank will make use of the loan to support the development of private sector, in particular SMEs, social and economic infrastructure as well as climate change mitigation and adaptation in the country, it said in a press release. The agreement was facilitated by SBI Capital Markets. The press release said the funds from EIB will be earmarked for financing projects across a broad range of sectors, including manufacturing, as well as wholesale and retail trade and services
