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IFC provides Axis Bank $500 million loan for green and blue finance in India

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The International Finance Corporation (IFC) has partnered with Axis Bank to provide a $500 million loan to scale green finance and develop the blue finance market in India. The funds will be used for projects such as offshore renewable energy and water waste management, as well as to enhance financing for climate projects, with a focus on green buildings aimed at mitigating climate change and generating employment. In June 2024, IFC also committed $105 million…

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Unlocking Climate Finance: How Capital Markets Can Drive India’s Green Transition

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Despite the global acknowledgement of climate change, there has been a significant lag in the financial and technical support promised by developed countries to developing nations. These delays worsen as extreme weather conditions intensify, disproportionately affecting vulnerable developing countries. India, with a population of 1.4 billion and a per capita income of around USD 2,500, is particularly vulnerable. Although India’s per capita emissions remain relatively low at 1.6 metric tons of carbon dioxide equivalent (CO2e),…