IFC invests $103 million in L&T arm’s green bonds

The International Finance Corporation, a member of the World Bank group, has bought green bonds worth Rs 6.67 billion ($103 million) sold by L&T Infrastructure Finance Company Limited, a subsidiary of L&T Finance Holdings Limited. This is the first such sale after SEBI notified rules for issuing green bonds in May 2017. The funds will be used by L&T Infrastructure Finance to provide loans to solar power projects. Renewable energy comprises 37 per cent of the company’s total loan portfolio of Rs 227.74 billion ($3.51 billion).