Ifc

Shriram Finance raises $1.27 bn in multi-currency syndicated loan

It's the largest syndicated multi-currency transaction by a private sector NBFC, says company

IFC to partner with Bajaj Finance to pump in $400 mn for climate finance

IFC's $400 million loan will enable Bajaj Finance to expand access to finance for customers opting to buy EVs, including 2-wheelers, 3-wheelers and 4-wheelers

IFC commits $400 mn to Bajaj Finance to help boost finance, empower women

IFC, a member of the World Bank Group, has committed USD 400 million (about Rs 3,300 crore) to help expand access to finance for customers opting to buy EVs and energy efficient consumer goods as well as support women-owned microenterprises. This USD 400 million support is part of the USD 1 billion fundraising exercise by Bajaj Finance Ltd (BFL). The funding aims to increase competitiveness in the climate finance market, support the country's climate goals, and promote financial inclusion, a joint statement said on Wednesday. IFC's USD 400 million loan will enable BFL to expand access to finance for customers opting to buy EVs, including two-wheelers, three-wheelers and four-wheelers, and strengthen its presence in the energy efficient consumer goods (EECG) space. "Accelerating climate financing is crucial for India to meet its net-zero goals. IFC's investment in Bajaj Finance will boost market competition, inspiring other NBFCs and investors to expand their financing for ...

IFC extends $500 mn loan to Axis Bank to fund green projects in India

International Finance Corporation (IFC), private sector lending arm of the World Bank Group, on Monday tied up with Axis Bank to provide a USD 500 million (about Rs 4,200 crore) loan to help develop a blue finance market and scale up financing of green projects in India. This is IFC's first blue investment in India and the first blue transaction by a financial institution in the country, a statement said. Blue loans are financing instruments that raise and earmark funds for investments such as water and wastewater management, reduction of marine plastic pollution, restoration of marine ecosystems, sustainable shipping, eco-friendly tourism, and offshore renewable energy. This transaction is also the largest green financing by IFC in the country, it said, adding, the funding will enable Axis Bank to expand its climate finance portfolio. With India's rapid urbanisation and economic growth, there is a substantial opportunity to enhance water and energy efficiency. The water and ...

IFC, ADB, DEG consortium to invest $275 mn in Fourth Partner Energy

IFC, ADB and DEG on Tuesday announced an investment of USD 275 million (about Rs 2,280 crore) into renewable energy solutions platform Fourth Partner Energy Ltd (FPEL). The consortium's investment will infuse capital to fund FPEL's business expansion plans which include a target portfolio of 3.5 GW of renewable energy assets by 2026, a statement said. FPEL has an installed base of 1.5 GW of green assets and is set to commission the first phase of its maiden 575 MW wind solar hybrid project under the ISTS (Inter State Transmission System) route, in Karnataka, later this quarter, it said. World Bank's International Finance Corporation (IFC) is leading the consortium with an investment of USD 125 million, while Asian Development Bank (ADB) is infusing USD 100 million and Germany's Deutsche Investitions- und Entwicklungsgesellschaft (DEG) is at USD 50 million to complete this round of fundraising, it said. "We welcome IFC, ADB and DEG as new partners to join our existing high quality .

IFC appoints Vikram Kumar as regional director for Asia and Pacific

Global investment and financing solution provider IFC on Monday said it has appointed Indian national Vikram Kumar as its Regional Industry Director for Infrastructure and Natural Resources in Asia and the Pacific. Kumar will be based in Singapore, where he begins his new role on July 1, IFC (International Finance Corp) said in a statement. Having more than 20 years of global investment and development expertise, Kumar will drive IFC's strategy to connect more people and businesses in the region to sustainable infrastructure. In his role, Kumar will lead IFC's Infrastructure and Natural Resources investment team across Asia and the Pacific to develop and implement power, water, telecom, transport, and other infrastructure projects with public and private sector partners, expanding the reach of essential services, said IFC -- a member of the World Bank Group. "His (Kumar's) experience leading transformative projects with our partners globally and in this region will enable him to gr

IFC commits $105 million to Brookfield's Bikaner Solar Power project

International Finance Corporation (IFC), the private sector financing arm of the World Bank Group, on Monday committed USD 105 million (about Rs 870 crore) to Brookfield's Bikaner Solar Power project through long-term non-convertible debentures. These debentures have been allocated to the project's special purpose vehicles, IFC said in a statement. The 550 MW solar power project in Bikaner, Rajasthan, will help boost India's renewable energy capacity and support climate goals, IFC said in a statement. Following its commitment, Brookfield will provide solar power to commercial and industrial (C&I) consumers across India at more competitive tariffs through long-term power purchase agreements (PPAs) and contribute to the nation's decarbonisation goals, it said. This is IFC's first investment in Asia and the Pacific using an innovative hybrid offtake structure where the project sells the power generated to C&I consumers under long-term corporate PPAs and merchant market via ...

IFC extends $500 million credit line to HDFC Bank for micro loans

Presently, non-banking financial companies (NBFCs), including microfinance institutions (MFIs) and small finance banks, are the major lenders to women seeking loans for income generation purposes

HDFC Bank raises $500 mn from IFC to extend microloans to women borrowers

HDFC Bank on Friday said it has raised USD 500 million from IFC for onlending to underserved women borrowers. The country's largest private sector lender will extend finance for income generation, fostering financial inclusion and socio-economic growth, as per an official statement. It will extend the microloans to self-help groups and joint liability groups of women enrolled under the Sustainable Livelihoods Initiative (SLI) of the lender. HDFC Bank's group head for Treasury, Arup Rakshit, said this is a longer duration credit facility which has been availed by the lender, and it will help in boosting the bank's efforts in empowering women. The statement said even though the non-banks have a deeper reach and serve two-thirds of the microfinance market, banks' extensive reach and lower funding costs can be leveraged to extend microloans to women. "Access to financial services is key to empowering women and strengthening the economy," IFC's regional director for South Asia Imad ...

IFC purchases Rs 1,250 crore worth sustainability-linked Grasim NCDs

Grasim Industries on Tuesday said the International Finance Corporation (IFC) has subscribed to its first sustainability-linked non-convertible debentures (NCDs) worth Rs 1,250 crore. The NCDs will support the company's investment in paint manufacturing, and help accelerate its decarbonisation drive through increased adoption of renewable energy and water recycling in the paint manufacturing process, the AB Birla group company said in a statement. The IFC has subscribed to the first sustainability-linked NCDs worth Rs 1,250 crore issued by Grasim Industries, as per a statement. Recently, the Aditya Birla group entered the decorative paints segment with Birla Opus, and had set a target of becoming a Rs 10,000-crore company within three years of full-scale operations. Grasim will work collaboratively with the IFC to "further enhance our sustainability footprints as it transitions to a low-carbon economy through renewable projects and energy-efficient products", thus aligning its ...

Mahindra Last Mile Mobility gets Rs 300 crore investment from IFC

MLMML will prioritise expanding last-mile passenger and cargo transport solutions

IFC, construction firm Sunteck set up JV for nearly 12K housing units

IFC's proposed investment is for up to Rs 330 crore ($40 million), with the remainder to be brought in by Sunteck Realty

IFC's stake will go up to 7.3% post infusion: Federal Bank's Srinivasan

"We have seen reasonably good growth and the outlook for growth remains quite constructive and positive. Now we must raise capital for funding the next wave of growth," said Shyam Srinivasan

Federal Bank raises Rs 959 cr from IFC via preferential issue of shares

The shares were issued at a price of 131.91 per share and were approved by the board on Friday, the bank said in a notification to exchanges

Multiple Private Equity, IFC to invest Rs 1,050 crore in Veritas Finance

The deal comprises a primary issue of Rs 400 crore and provides a partial exit to early investors

Global investment firms IFC, M&G invest in Vivriti Retail Asset Fund

The fund will focus on scaling investment in securitised debt securities with MSE-backed assets

IFC picks up green bonds worth $50 million from Tata Cleantech Capital

Tata Cleantech Capital, the green funding arm of Tata Capital, on Monday said its equity partner International Finance Corporation has picked up its sustainability-linked bonds worth USD 50 million or about Rs 375 crore. The bonds are the first in the country by a private financial institution, and the money will help Tata Cleantech Capital -- a joint venture between Tata Capital and the IFC -- strengthen its position as a leading green financier by funding climate and sustainability projects. The company will use the money to scale up on-lending towards renewable energy projects and diversify into energy efficiency and e-mobility sectors over the next three years, it said, adding this is the first such instrument issued by a private financial institution in the country and will support the shift to a clean energy economy. Aligning with our sustainability goals, IFC's innovative financing structure will strengthen our green financing portfolio apart from helping diversify our ...

World Bank arm IFC to invest Rs 600 cr in M&M's new last-mile mobility firm

Deal values newly incorporated company at Rs 6,020 cr; the investment, which will be in the form of compulsory convertible instruments, will give IFC an ownership of 9.97-13.64% in the enterprise

IFC to invest Rs 600 cr in Mahindra & Mahindra's new last-mile EV firm

Global development institution IFC will invest Rs 600 crore in a new last-mile mobility (LMM) company, a wholly-owned subsidiary of Mahindra & Mahindra that will be newly incorporated (NewCo), it announced on Wednesday.

The Bank doesn't mean the World to anyone

Ajay Banga is tipped to become World Bank president in the wake of his two immediate predecessors leaving behind unfinished terms and at a time the Bank's role is once again under question