ICICI Bank to boost lending to clean energy technology as pro-environment initiative
By Neelima Shankar
Jun 3, 2013
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The private sector lender, ICICI Bank is mulling on an exclusive lending facility for business and people working in clean energy technology.

"We are always on the lookout for good projects that seek to develop and/or deploy clean energy technologies. We have the resources to support a large number of such projects and we would want to expand our activities in this area," said Mrs. Chanda Kochhar ICICI Bank Managing Director and CEO.

Talking about the initiative taken by the bank, Mrs. Kochhar said that the bank provides concessional finance to the projects in these areas and the concessions depend on various criteria.

Ahead of the World Environment on June 5th, Mrs. Kochhar has asked the government, other banks and the private sector industries to come forward to work for a clean and green environment.

"ICICI Bank has been assisting projects and initiatives in the area of environmental sustainability for over two decades. We continue to support initiatives being taken by the industry in this area. At the same time, we will also look at projects that protect our biodiversity (flora and fauna) as well." Mrs. Kochhar said.

"As we observe World Environment Day, I have mentioned to my team that they should identify and support at least one project to protect an endangered species in the country to start with," she added.

As, a pro-environment initiative, the bank has also gone paperless for its internal meetings, including meetings of its board of directors. In these meetings, all the communications are done with handheld devices.

The bank also adopted few villages recently in Arunachal Pradesh in border areas adjoining to the China to encourage farmers against deforestation there.


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