BoB, KfW partners to fund solar projects
22 Feb 2019
New Delhi, Feb 22 (PTI) Bank of Baroda (BoB) has tied up with Germany's KfW Development Bank to extend funding of USD 113 million to refinance solar projects, under the Solar
Partnership II – Promotion of Solar PV in India. This proposal constitutes part of the overarching Indo-German Solar Energy Partnership, BoB said in a statement on Friday. Under an inter-governmental MoU in 2015, Germany has committed to providing financing support through KfW Development Bank for solar photo voltaic investments, it said. PTI DP HRS
About Bank of Baroda Bank of Baroda
(“The Bank”) established on 20th July 1908 is a State-owned banking and financial services organisation, headquartered in Vadodara (earlier known as Baroda) in Gujarat, India.
Bank of Baroda is India’s leading public sector bank with a strong domestic presence supported by self- service channels. The Bank’s distribution network includes 8,200+ branches, 10,000+ ATMs, 1,200+ self-service e-lobbies and 20,000 Business Correspondents. The Bank has a significant international presence with a network of 100 branches/offices of subsidiaries, spanning 20 countries. The Bank has wholly owned subsidiaries including BOB Financial Solutions Limited (erstwhile BOB Cards Ltd.), BOB Capital Markets and Baroda Asset Management India Ltd. Bank of Baroda also has joint ventures for life insurance viz. IndiaFirst Life Insurance Company Limited and India Infradebt Ltd., engaged in infrastructure financing. The Bank owns 98.57% in The Nainital Bank. The Bank has also sponsored three Regional Rural Banks namely Baroda Uttar Pradesh Gramin Bank, Baroda Rajasthan Gramin Bank and Baroda Gujarat Gramin Bank.