ABFL Receives Rs.1000Cr. As ‘Green Loan’ From IFC

In Clean News, News, Renewable Energy

The NBFC arm of Aditya Birla Capital, Aditya Birla Finance (ABFL) has received a seven-year long-term loan of Rs 1,000 crore from International Finance Corporation (IFC). The proceeds will be used to finance renewable energy projects and help the country move towards its target of 175 GW of renewable energy capacity by 2022.

Aditya Birla Finance Limited (“ABFL”) is among the leading well-diversified financial services company in India offering end-to-end lending, financing and wealth management solutions to a diversified range of customers across the country.

ABFL is registered with RBI as a systemically important non-deposit accepting non-banking finance company (“NBFC”) and ranks among the top five largest private diversified NBFCs in India based on AUM as of March 31st, 2017 (source: CRISIL).

ABFL caters to the varied needs of diverse set of customers ranging across retail, HNI, ultra HNI, micro enterprises, SME, mid and large corporates.It manages all the financial services businesses of the Aditya Birla Group.

With this funding, IFC would help ABFL develop its renewable energy program by providing longer-tenor financing, knowledge sharing, and setting of standards. IFC brings to the partnership its deep understanding of the renewable energy sector.

 

 

 

 

Referenced- ET, Money Control

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