CHENNAI: Indian Green Building Council (IGBC) and Indian Overseas Bank (IOB) have entered into an agreement to promote green buildings and sustainable construction practices in Chennai, on Monday. “IOB will offer preferential financing options to developers engaged in constructing IGBC-rated green buildings.

The bank will also provide tailored financial support to homebuyers purchasing residential units in these IGBC-certified projects,” a release said.

Ajay Kumar Srivastava, MD-CEO of IOB, said that since urbanisation continued to grow at an unprecedented pace in India, sustainable construction practices were more important than ever.

Concurring with him was KS Venkatagiri, executive director of IGBC, who added: “Sustainability has become a core pillar of the Indian construction industry, and this collaboration with IOB is a testament to our shared vision for a green future.”