IFC to invest $5-6 b in Indian sustainability projects
International Finance Corporation (IFC), the private-sector lending and investment arm of World Bank, is considering investing $5-6 billion towards sustainability projects in India.
In an exclusive interaction with BusinessLine, Jun Zhang, IFC Country Manager for India, noted that in the previous financial year, which closed for IFC just a few weeks ago (July 1 – June 30), IFC financed $1.96 billion in about 40 projects in India, overachieving its yearly target of around $1.2 billion.
Focus on renewables
Out of this, Zhang said that around $450 million had been invested in the infrastructure sector, including renewable energy projects. The segment will continue to be a priority for IFC, and a special focus will be on waste water projects. Affordable housing, SME finance, financial inclusion and healthcare are other focus areas.