Symbiotics, Samunnati Financial launch agri green bond

Symbiotics, a leading market access platform for impact investing, with Samunnati Financial Intermediation & Services has launched a Green Bond whereby the proceeds of $4.6 million in local currency equivalent are fully allocated towards climate-smart agriculture. 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. Samunnati is working with Farmer Producer Organisation (FPOS) on the supply side and Agri Enterprises on the demand side across 22 states in India. This bond will help Samunnati 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.