IFC's $400 million loan will enable Bajaj Finance to expand access to finance for customers opting to buy EVs, including 2-wheelers, 3-wheelers and 4-wheelers, and strengthen its presence in the EECG space. The partnership will also boost Bajaj Finance's ability to fund and support more women-owned micro-enterprises and women micro-borrowers."IFC's funding of $400 million serves as a catalyst for diversifying our financing sources. With this, our volume of outstanding climate loans stands to increase 4x to $600 million in 2027 from over $150 million in 2024. It helps us enable greater usage of EVs and energy-efficient consumer goods, support more women-owned micro-borrowers, and contribute better to India's inclusive and low carbon future," said Sandeep Jain, chief financial officer & chief operating officer, Bajaj Finance Ltd.The funding is aimed at increasing competitiveness in the climate finance market.Imad N. Fakhoury, regional director for South Asia, IFC, said, "Accelerating climate financing is crucial for India to meet its net-zero goals. IFC's investment in Bajaj Finance will boost market competition, inspiring other non-banking financial companies (NBFCs) and investors to expand their financing for energy-efficient solutions, e-mobility, and microfinance."

IFC to invest $400 mn in Bajaj Fin's $1 bn fundraise

1051,1615,548,111,2020,3101

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is the World's largest and fastest growing self-service, cross-platform digital newsstand with over 87 million users since its inception in 2011 and thousands of magazines and newspapers across 40+ categories and 60+ languages. Headquartered in New York, Magzter has its local presence in Amsterdam, London, Mexico City, Chennai, Mumbai, New Delhi, Bengaluru, Singapore, and will soon be expanding to other countries. Founded by global entrepreneurs, Girish Ramdas and Vijay Radhakrishnan in June 2011, Magzter enables magazine and newspaper publishers around the world to create and deliver digital editions of their titles to global consumers.

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which gives digital readers unlimited access to 9,000+ magazines and newspapers for a monthly subscription price. Magzter also has the largest number of stories in the world with its game-changing ezRead 2.0 feature for its apps, which enables smartphone and small-screen mobile users to enjoy magazine content the way it was meant to be enjoyed, with article text that is easy to read and is accompanied by stunning videos and high resolution photography.

{{magzter}} is the World's largest and fastest growing self-service, cross-platform digital newsstand with over 87 million users since its inception in 2011 and thousands of magazines and newspapers across 40+ categories and 60+ languages. Headquartered in New York, Magzter has its local presence in Amsterdam, London, Mexico City, Chennai, Mumbai, New Delhi, Bengaluru, Singapore, and will soon be expanding to other countries. Founded by global entrepreneurs, Girish Ramdas and Vijay Radhakrishnan in June 2011, Magzter enables magazine and newspaper publishers around the world to create and deliver digital editions of their titles to global consumers.