IFC and Axis Bank launch India's first blue finance initiative with a $500m loan for water management, ecosystem restoration, and sustainable shipping.

The International Finance Corporation (IFC) has teamed up with Axis Bank to launch India's first blue finance initiative, providing a $500 million loan to develop a blue finance market and enhance green project funding. This marks IFC's inaugural blue investment in India, targeting areas like water management, marine ecosystem restoration, and sustainable shipping. Axis Bank aims to increase its climate finance to $7.2 billion by 2030, supporting India's environmental goals.

October 07, 2024
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