KfW rules out financing for Adani's Carmichael coal mine

German development bank KfW has responded to a number of enquiries about its business relationship with the State Bank of India in connection with SBI's financing for the Carmichael Mine Project in Australia developed by the Indian Adani Group.

KfW Development Bank says it cooperates with SBI exclusively with regard to the promotion of renewable energies and energy-efficient housing within India. "The Carmichael mine project mentioned is not part of this cooperation," it adds.