Bajaj Fin gets $400 million IFC loan for EV lending

World Bank arm International Finance Corporation (IFC) has agreed to provide a $400 million loan to Bajaj Finance to on-lend to customers opting to buy electric vehicles (EV) and strengthen its presence in the energy-efficient consumer goods space, said a joint statement issued by them. The loans will be for electric two-wheelers, three-wheelers and four-wheelers.

This partnership will also boost Bajaj Finance’s ability to fund and support more women-owned microenterprises and women micro borrowers, the statement said. “With this, our volume of outstanding climate loans stands to increase 4x to $600 million in 2027 from over $150 million in 2024.

It helps us enable greater usage of EVs and energy-efficient consumer goods, support more women-owned micro-borrowers, and contribute better to India’s inclusive and low carbon future,” said Sandeep Jain, CFO and COO at Bajaj Finance.