World Bank’s MIGA Provides USD 197.67 Million Guarantee to Citibank to Refinance SBI Rooftop Solar ProgramIn February 2026, the Multilateral Investment Guarantee Agency (MIGA), the guarantee arm of the World Bank Group (WBG), issued a USD 197.67 million five-year guarantee to Citibank N.A. for its non-shareholder loan to the State Bank of India (SBI) to support the refinancing of investments in India’s Grid-connected Rooftop Solar Photovoltaic (GRPV) systems.
About MIGA Guarantee for SBI:
Background: The SBI launched the GRPV systems programme in 2016 with financing from the International Bank for Reconstruction and Development (IBRD) of the WBG.
Refinance: The facility enables refinancing of the remaining principal of a USD 500 million IBRD loan for GRPV systems.
Headroom: By transferring exposure to Citibank’s balance sheet, the transaction frees lending capacity for additional World Bank financing to the Government of India (GoI).
About MIGA Guarantee for SBI:
Background: The SBI launched the GRPV systems programme in 2016 with financing from the International Bank for Reconstruction and Development (IBRD) of the WBG.
Refinance: The facility enables refinancing of the remaining principal of a USD 500 million IBRD loan for GRPV systems.
Headroom: By transferring exposure to Citibank’s balance sheet, the transaction frees lending capacity for additional World Bank financing to the Government of India (GoI).
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