Vivriti Capital raises $25 million ADB loan for climate bond

Vivriti Capital Limited (VCL), a non-banking finance company (NBFC), raised a $25 million senior secured debt facility from the Asian Development Bank (ADB) to lend towards its climate finance initiatives. The 4-year tenor loan, is the first by an NBFC which will be used to expand its green finance portfolio, the company said.

The proceeds will fund renewable energy projects and the electric vehicle (EV) ecosystem, with at least 30% allocated to EV infrastructure and on-lending for EV purchases.

India has set a target to reduce carbon emissions by one billion tons by 2030 and achieve net zero by 2070.


“The support from the Asian Development Bank will enable us to further contribute to this national objective. By directing these funds into strategic loans for electric vehicles and renewable energy projects, we aim to catalyze sustainable economic growth, creating a multiplier effect in the economy,” said Parth Sanghani, Chief Treasury Officer, Vivriti Capital. “By directing these funds into strategic loans for electric vehicles and renewable energy projects, we aim to catalyze sustainable economic growth, creating a multiplier effect in the economy.”

“Climate bonds can bridge the large market gap for climate finance in India while supporting development of the capital market,” said ADB Director General for Private Sector Operations Suzanne Gaboury.