IFC Partners with Axis Bank to Provide a $500 million Climate Loan in India:

Daily Current Affairs / IFC Partners with Axis Bank to Provide a $500 million Climate Loan in India:

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Category : Business and economics Published on: October 11 2024

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The International Finance Corporation (IFC) is partnering with Axis Bank, one of the largest private sector banks in India. to provide a $500 million 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.
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.