Since 1956, IFC has invested in nearly 400 companies in India, providing almost $15 billion in financing from its own account and mobilization from external resources. As of June 2016, IFC’s committed portfolio in India is almost:
To grow opportunities for the underserved, IFC concentrates on low-income, rural, and fragile regions in the country through boosting infrastructure; facilitating seamless supply chains by improving logistics; promoting financial inclusion; building resilience through local capital markets and ushering in a low-carbon future
STORIES OF IMPACT
Supporting Financial Inclusion: IFC reaches 11 million customers through all its microfinance investments in India - nearly a third of the current outreach of microfinance institutions in the country. In 2011, IFC made a $29 million equity investment in Bandhan, marking the largest private sector investment in microfinance in India. This made a difference to Bandhan, and to the sector, when it was needed most. Since then, IFC has made further equity and debt investments in Bandhan, with the total financial assistance amounting to almost $150 million. Today, IFC is one of the largest institutional shareholders in Bandhan – which serves over 6.5 million borrowers in the most underbanked parts of the country.
Addressing Climate Change: As a priority of IFC’s work in India, IFC issued a 5-year green Masala bond on the London Stock Exchange. As the first green bond issued in the offshore rupee markets, the bond raised 3.15 billion rupees for private sector investments that address climate change in India. The IFC green Masala bond is issued under IFC’s $3 billion offshore rupee Masala bond program. The proceeds of the bond will be invested in renewable energy and energy efficiency projects, mainly in the solar and wind sectors.
Tackling the Impacts of Water Scarcity: India is already beginning to witness the severity of impact from water scarcity in terms of damage to livelihoods, health, and eco-systems. IFC, as a member of the 2030 Water Resources Group, has been working to mobilize private and public sector come up with much needed solutions to address the challenge of severe water scarcity in the country.
Published in March 2016