IFC and Axis Bank Partner for $500 Million Blue Finance and Green Projects in India
| Key Points | Details |
|---|---|
| Partnership | IFC and Axis Bank collaborate on a $500 million loan to scale blue finance and green projects in India. |
| Loan Amount | $500 million (IFC's first blue investment in India and largest climate finance initiative in the country). |
| Loan Focus Areas | Water management, wastewater treatment, ocean plastic pollution reduction, marine ecosystem restoration, offshore renewable energy. |
| Market Potential (India) | Water efficiency, wastewater treatment, green infrastructure projected to grow into a $3 billion market by 2029. |
| Green Buildings Investment Opportunity | $1.4 trillion by 2030. |
| Axis Bank's ESG Commitment | ₹60,000 crore ($7.2 billion) commitment to ESG-aligned sectors by 2030, with ₹30,000 crore ($3.1 billion) achieved by March 2024. |
| IFC's Blue Finance Commitments | Over $1.9 billion globally in blue loans and bonds since 2020. |
| IFC Role | Provides advisory services to Axis Bank, particularly in growing green buildings portfolio and sustainable infrastructure. |
| About IFC | Member of the World Bank Group. Largest global development institution focused on private sector in emerging markets. Operates in over 100 countries. Committed $56 billion in FY 2024. |
| About Axis Bank | Third largest private-sector bank in India. Network: 5,427 branches, 15,014 ATMs. Serves SMEs, agriculture, retail, and other sectors. |