IFC To Invest USD 1 Bn In India For Green Buildings

IFC To Invest USD 1 Bn In India For Green Buildings

With a view to support India’s green building initiative, International Finance Corporation (IFC) is planning to invest over USD one billion in next five years, a senior official today said.

IFC, a member of World Bank, has planned an investment of around USD 5-6 billion for the next five years in India for participating in the country’s climate change programs, its Country Head (India) Jun Zhang told reporters on the sidelines of an event here.

“We will be investing around 20 per cent of this amount which is over USD one billion in creating green buildings,” he said.

He also said affordable and sustainable homes is a key part of IFC’s strategy in India.

“We invest and advice housing finance companies, developers and have also helped leading private sector banks to issue green bonds to finance green homes,” Zhang said.

The remaining amount of the USD 5-6 billion IFC will invest in India’s programs like renewable energy among others, he said.

IFC has so far invested USD 2 billion in India since 2005, he said, adding it will continue to participate in the country’s various development initiatives.

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