IIFCL working on green, climate risk assessment & cost-cutting initiatives

New Delhi: The Indian Infrastructure Finance Company Ltd (IIFCL) is working on various initiatives such as green transition of MSMEs, climate risk assessment framework, and reducing costs among others. "We are also working with insurance companies as we want insurance to come closer to infrastructure," Palaash Srivastava, managing director of IIFCL, said here on Friday.

The firm will launch new products after September 30, he added.

"IIFCL is working on a series of initiatives which will bring down our cost of funds, which will be passed on to everybody else and hence the cost of consuming infrastructure comes down for the people at large," Srivastava said at a stakeholders meet organised by IIFCL.


"What we currently need as per CBAM is that all of our MSME units have access to green power, and we are currently working with the MSME ministry on the same," he said.

IIFCL has prepared a model that maps possible disaster risks in 783 districts across the country, the MD said.

Even the Reserve Bank of India was asking about it, he said, adding that all this will be accessible so that it can be factored in during project development.

Within IIFCL, 11 task forces have been created that focus on new product development, retaining customers beyond rates, reducing cost, using AI, IT-led convergence and collaboration with stakeholders, vigilance, and fostering a culture of innovation in a responsible manner, among others. "We want to work towards making a change even in the social dimension and are working on reducing road accidents," Srivastava said.