IFC provides a $500 million loan to Axis Bank for increasing green financing

The International Finance Corporation (IFC) has partnered with Axis Bank to provide a $500 million loan to them, aiming to scale green financing in India and develop the blue finance market. The funds will be utilised for projects in offshore renewable energy, water waste management and others. Further, they will be used to enhance financing for climate projects across India, focussing on green buildings that will mitigate climate change impacts and help generate employment.