IFC plans $6 billion investment in India

MUMBAI: International Finance Corporation ( IFC), a World Bank Group member, is planning to invest up to $6 billion in India over the next five years to support initiatives in renewable energy and green buildings, said a top official of the institution.

“We have already invested over $2 billion in green buildings initiatives in India since 2005. Over the next five years until 2022, we will be investing $5 billion to $6 billion on climate change-led initiatives,” said Jun Zhang, India country head, IFC.

Out of this proposed investment, 20% will be invested in efforts towards green buildings initiatives, while rest will be in climate change-led and sustainable development projects.