IFC to invest USD 1 billion in India for green buildings

With a view to support India’s green building initiative, the International Finance Corporation is planning to invest over USD one billion in the next five years, a senior official said

The International Finance Corporation (IFC), a member of the World Bank, has planned an investment of around USD 5-6 billion, over the next five years in India, for participating in the country’s climate change programs, its country head (India) Jun Zhang, announced on July 18, 2017. “We will be investing around 20 per cent of this amount, which is over USD one billion, in creating green buildings,” he said.

See also: Private sector developers come together for a sustainable housing consortium

IFC will invest the remaining amount of the USD 5-6 billion, in India’s programs like renewable energy among others, he said. He also said affordable and sustainable homes were a key part of IFC’s strategy in India. “We invest and advice housing finance companies, developers and have also helped leading private sector banks, to issue green bonds to finance green homes,” Zhang said.

IFC has so far invested USD 2 billion in India since 2005, he said, adding that it will continue to participate in the country’s various development initiatives.

 

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