PROJECT

Projects

Summary of Investment Information

Project Number

50037

Company Name

BAJAJ FINANCE LIMITED

Date SPI Disclosed

Oct 16, 2024

Country

India

Region

South Asia

Projected Board Date

Aug 9, 2024

Environmental Category

FI-3 - No Impact

Status

Active

Last Updated Date

Oct 17, 2024

Department

Regional Industry - FIG Asia & Pac

Industry

Financial Markets

Previous Events

Approved : Aug 9, 2024
Signed : Aug 30, 2024
Invested : Sep 9, 2024

Sector

Other Non-Banking Financial Institution (NBFI)

Project Description

 The proposed Project envisages an investment in Bajaj Finance Limited (BFL or the Company), one of India’s largest non-banking finance companies (NBFC). IFC will provide up to US$400 million from its own account to help mobilize up to US$600 million from other lenders. US$100 million of the IFC loan will be dedicated to supporting the Company’s microfinance loans to women-owned microenterprises and women micro-borrowers for income generation purposes (through individual and group lending). The remaining amount of up to US$300 million will be for climate finance and will support the Company’s loans to individuals for the purchase of electric vehicles (EVs) and energy efficient consumer goods (EE CGs).

                                                  

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation