The European Investment Bank (EIB) approved a EUR 200 million (~Rs.13.8 billion), 20-year loan to State Bank of India (SBI) which will be utilized to help develop large scale solar projects in India. The loan will support a total investment of EUR 650 million (~Rs.44.8 billion) in five different large-scale solar PV power projects and contribute to India’s National Solar mission and reduce dependence on fossil fuel power generation, stated a EIB release.