Indian Overseas Bank CII Indian Green Building Council ink pact

Chennai, Mar 1 (PTI) Public sector Indian Overseas Bank has signed a memorandum of understanding with the Confederation of Indian Industry - Indian Green Building Council, to provide accessible and affordable financing solutions for developers and home buyers, a top official said.
    As per the collaboration, Indian Overseas Bank would offer preferential financing options to developers engaged in construction of IGBC-rated green buildings. The bank would also provide tailored financial support to home buyers purchasing residential units in the IGBC - certified projects.
    At an event recently, Indian Overseas Bank's General Manager and CRO Koustuv Majumder exchanged documents with CII Indian Green Building Council, Executive Director K S Venkatagiri in the presence of IGBC Chennai chapter Co-Chairman Mahesh Anand and Indian Overseas Bank Executive Directors Joydeep Dutta Roy and Dhanaraj T, a press release said on Saturday.
    "This partnership with IGBC is a significant step toward ensuring that green buildings are not just an aspiration but a viable and affordable reality. By providing attractive financial solutions for sustainable projects, we aim to encourage developers and homeowners to choose eco-friendly construction, thereby contributing to a greener and healthier India," the bank's MD and CEO Ajay Kumar Srivastava said.
    With green buildings being a key solution to combat environmental degradation and rising energy consumption, this collaboration would help create a positive change by encouraging widespread adoption of sustainable construction practices.
    "With IOB's financing support, we are making green buildings not only environmentally viable but also financially accessible to a larger section of the population. This collaboration is a big leap in our mission to create an energy-efficient and resource conserving built environment," CII IGBC Executive Director K S Venkatagiri said.

(This story has not been edited by THE WEEK and is auto-generated from PTI)