IFC loan to increase Bajaj Finance's lending to women led MSMEs

International Finance Corporation (IFC) part of the World Bank Group has proposed to loan up to $150 million to Bajaj Finance Ltd.

According to IFC, the proposed $150 million senior loan for up to five years to Bajaj Finance will enable the company to expand its lending to micro, small and medium enterprises (MSME) and women owned MSMEs.

Bajaj Finance will increase its lending to MSME segment to about $600 million.

Headquartered in Pune, Bajaj Finance part of the Bajaj Group is the third largest non-banking finance company (NBFC) in India with $4.9 billion equity base and $22.3 billion asset base as of December 31, 2020, IFC said.

IFC is an international financial institution that povides investment, advisory, and asset-management services to support private-sector development in lesser developed countries. The IFC is a member of the World Bank Group and is headquartered in Washington, D.C. in the United States.

It was found in 1956, as the private-sector arm of the World Bank Group, to advance economic development by investing in for-profit and commercial projects for poverty reduction and promoting development.

Read More News :

Amit Jain Takes Charge as the chairperson of MMA India board of directors

Trend Micro Onboards Vijendra Katiyar as Country Manager, India & SAARC