News

IFC Commits USD 400 Million to Bajaj Finance, Targeting a Fourfold Increase in Climate Loans by 2027.

Banking & Finance | Dated: 13 Nov 2024

The USA-based International Finance Corporation (IFC), a member of the World Bank Group, will provide a USD 400 million loan to Pune-based BFL, a leading NBFC.

🎯 Key Highlights:

- This loan is part of BFL's USD 1 billion fundraising initiative, aiming to expand access to climate finance for EVs and EECGs in India.

💡 Other Important Facts:

(i) The investment will boost competitiveness in the climate finance sector, align with national climate goals, and enhance financial inclusion across India.
(ii) This will help BFL enable greater usage of EVs and energy-efficient consumer goods, support more women-owned micro-borrowers, and contribute to India's inclusive and low-carbon future.

📚 Test Your Knowledge:

How much funding has IFC recently committed to Bajaj Finance to support a fourfold increase in climate loans by 2027?

Correct Answer: 400 million

🚀 Quick Recap:

About Bajaj Finance

CEO : Rajeev Jain
Headquarters : Pune