MIGA Guarantee of USD 197.67 Million for Citibank, SBI Solar Loan
Why in the news
MIGA, a World Bank Group arm, gave Citibank N.A. a USD 197.67 million guarantee connected with State Bank of India’s rooftop solar lending.
Key facts
- Guarantee amount: USD 197.67 million.
- Beneficiary: Citibank N.A.; guarantor: MIGA.
- Purpose: refinance SBI’s rooftop solar programme.
- Lets the leftover USD 500 million IBRD loan be refinanced.
What it achieves
| Element | Detail |
|---|---|
| Guaranteed party | Citibank N.A. |
| Programme supported | SBI rooftop solar |
| Loan refinanced | Remaining USD 500 million of IBRD loan |
| Outcome | More lending space for World Bank financing in India |
Exam angle
- Full form: Multilateral Investment Guarantee Agency.
- Amount: USD 197.67 million; IBRD loan balance: USD 500 million.
- Programme: SBI’s rooftop solar.