International Finance Corporation (IFC) invests Rs. 630 crore in NDR InvIT's SLBS.

Banking & Finance

The International Finance Corporation (IFC), based in Washington, DC, USA, and a member of the World Bank Group, has invested USD 75 million (around Rs 630 crore) in India's first sustainability-linked bond (SLB), which is issued in Indian rupees (INR).


      - The bond was issued by NDR Infrastructure Investment Trust (InvIT), based in Mumbai, Maharashtra, and sponsored by NDR Warehousing Private Limited.

      - This is the first time a warehousing InvIT in India has issued an SLB.

     

Main Point :-   (i) IFC's investment will help NDR InvIT meet its environmental, social, and governance (ESG) goals, including earning EDGE (Excellence in Design for Greater Efficiencies) certification for its warehouse properties.

      (ii) IFC will also support NDR InvIT in adopting gender-inclusive work practices through the India Gender Collaborative (IGC).

(iii) Industry experts predict that warehouse space in India will grow from 300 million square feet (sq. ft.) in FY23 to 500 million sq. ft. by 2030.

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