IFC commits $400 mn to Bajaj Finance to help boost finance, empower women

Quick Summary:

IFC, a member of the World Bank Group, has committed USD 400 million (about Rs 3,300 crore) to help expand access to finance for customers opting to buy EVs and energy efficient consumer goods as well as support women-owned microenterprises.

IFC's USD 400 million loan will enable BFL to expand access to finance for customers opting to buy EVs, including two-wheelers, three-wheelers and four-wheelers, and strengthen its presence in the energy efficient consumer goods (EECG) space.

The funding aims to increase competitiveness in the climate finance market, support the country's climate goals, and promote financial inclusion, a joint statement said on Wednesday.

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Article Details

Category: BusinessFinance

Markets: India

Topics: World Bank Group Bajaj Finance Electric vehicles Bajaj Finance Ltd (BFL) IFC

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-06 @ 14:35:56 (4 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 351 words

Reading Time: 2 minutes read

Sentences: 12 lines

Sentence Length: 30 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 23444760

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