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

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.
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