IFC to invest $100 million in renewable energy and women entrepreneurship
Updated: Mar 02, 2015 03:37:44pm
New Delhi, Mar 2 (KNN) World Bank’s private sector investment arm, International Finance Corporation (IFC) plans to invest $100 million through Yes Bank Ltd. The investment will lend to renewable energy projects and women-owned small and medium sized enterprises.
The corpus is equally divided to fund projects in climate change primarily in the renewable energy sector and to provide long term financing to SMEs being run by women entrepreneurs, the IFC's project disclosure report said.
Founded in 2004, Yes Bank is expected to bring out specifically designed products for this purpose and mobilise disbursement with the help of its 600 plus branches across India. Currently the SME finance portfolio of the bank is 32% which it intends to raise it to 50% over the next five years.
Earlier, the bank had raised another $200 million In 2013 from the Asian Development Bank (ADB) to lend to small farm households and rural women towards their working capital.
"IFC and Yes Bank are looking to explore deeper collaboration in Capital Markets including supporting Yes Bank's efforts to broaden the range of investors in its offerings of senior debt securities such as Green Bonds. This financing is consistent with and supportive of this overall strategic priority," said IFC. (KNN/VV)
The corpus is equally divided to fund projects in climate change primarily in the renewable energy sector and to provide long term financing to SMEs being run by women entrepreneurs, the IFC's project disclosure report said.
Founded in 2004, Yes Bank is expected to bring out specifically designed products for this purpose and mobilise disbursement with the help of its 600 plus branches across India. Currently the SME finance portfolio of the bank is 32% which it intends to raise it to 50% over the next five years.
Earlier, the bank had raised another $200 million In 2013 from the Asian Development Bank (ADB) to lend to small farm households and rural women towards their working capital.
"IFC and Yes Bank are looking to explore deeper collaboration in Capital Markets including supporting Yes Bank's efforts to broaden the range of investors in its offerings of senior debt securities such as Green Bonds. This financing is consistent with and supportive of this overall strategic priority," said IFC. (KNN/VV)
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