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Vivriti Capital Secures USD 25 Million ADB Loan for Climate Initiatives.

Banking & Finance | Dated: 14 Oct 2024

Vivriti Capital Limited (VCL), a non-banking finance company (NBFC), has successfully raised a USD 25 million senior secured debt facility from the Asian Development Bank (ADB) to support its climate finance efforts.

🎯 Key Highlights:

  • - This four-year bond marks the first of its kind issued by an NBFC and is aimed at expanding VCL's green finance portfolio.
  • - At least 30% of the funds received will be spent on electric vehicles (EVs), including investments in charging stations and battery swapping facilities.

💡 Other Important Facts:

  • (i) Certified by the Climate Bonds Initiative, the bond is designed to enhance access to climate finance for financially underserved sectors, including micro, small, and medium-sized enterprises (MSMEs), mid-market corporates, and retail clients across India.
  • (ii) India is committed to ambitious environmental goals in its updated nationally determined contributions, including a target to reduce carbon emissions by one billion tons by 2030 and achieve net-zero emissions by 2070.

📚 Test Your Knowledge:

What amount did recently Vivriti Capital raise from the Asian Development Bank (ADB) for Climate Initiatives?

Correct Answer: USD 25 million

🚀 Quick Recap: