World Bank Group’s Multilateral Investment Guarantee Agency (MIGA) has secured a $197.67 million five-year guarantee to Citibank N.A. for its loan to State Bank of India. The backing supports refinancing of a $500 million World Bank facility for grid-connected rooftop solar photovoltaic systems serving commercial and industrial users across India. SBI launched the program in 2016 with World Bank financing and technical assistance to establish commercial viability, and the initiative has achieved 1,004 MW of installations while attracting international lenders and private finance. Citibank acted as sole lender and coordinator, building on a 2024 collaboration. The refinancing is expected to reduce borrowing costs and diversify funding sources. The transaction shifts loan exposure to commercial lenders, creating headroom for additional World Bank lending. SBI must allocate 7.5% of domestic advances to green financing, as India requires $160 billion to $300 billion annually to reach net zero by 2070.