PROJECT

Projects

Summary of Investment Information

Project Number

41994

Company Name

MANAPPURAM FINANCE LIMITED

Date SPI Disclosed

Feb 15, 2019

Country

India

Region

South Asia

Projected Board Date

Mar 20, 2019

Environmental Category

FI-3 - No Impact

Status

Completed

Last Updated Date

Jul 22, 2022

Department

Regional Industry - FIG Asia & Pac

Industry

Financial Markets

Previous Events

Approved : Apr 17, 2019
Signed : May 14, 2019
Invested : Jun 25, 2019

Sector

Other Non-Banking Financial Institution (NBFI)

Project Description

The proposed project comprises a 3-year senior, secured debt funding of up to INR 5,400mn (US$75mn) to Manapurram Finance Limited (‘MFL’).

 

IFC’s investment will be structured by splitting the facility as US$30mn towards Kerala and $45mn to be utilized in Low Income States (‘LIS’). The proposed project relates to supporting MFL in extending finance to the most vulnerable sections of Kerala after the state witnessed one of its worst floods and for utilization in LIS of India.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation