Green Credit: Origin and Evolution

The concept of 'green credit' traces its origins back to foreign ideologies like Environmental Finance and Sustainable Finance. The year 1974 witnessed the establishment of the world's inaugural policy bank by the Federal Republic of Germany. This bank focused on providing loans for environmental projects, aiming to alleviate their financial challenges. Subsequently, in the same year, the Federal Republic of Germany initiated the first-ever environmental bank dedicated to extending financial aid to environmental projects.