📋 Tender Overview
Project Number: 50037
Company Name: BAJAJ FINANCE LIMITED
Date SPI Disclosed: Oct 16, 2024
Country: India
Region: South Asia
Projected Board Date: Aug 9, 2024
Environmental Category: FI-3
Status: Active
Department: Regional Industry - FIG Asia & Pac
Industry: Financial Institutions
Sector: Other Non-Banking Financial Institution (NBFI)
Project Description
The proposed Project envisages an investment in Bajaj Finance Limited (BFL or the Company), one of India’s largest non-banking finance companies (NBFC). IFC will provide up to US$400 million from its own account to help mobilize up to US$600 million from other lenders. US$100 million of the IFC loan will be dedicated to supporting the Company’s microfinance loans to women-owned microenterprises and women micro-borrowers for income generation purposes (through individual and group lending). The remaining amount of up to US$300 million will be for climate finance and will support the Company’s loans to individuals for the purchase of electric vehicles (EVs) and energy efficient consumer goods (EE CGs).
Total Project Cost and amount and nature of IFC's Investment:
The proposed Project envisages a senior secured debt investment of up to US$400 million in Bajaj Finance Limited
Financing Sources:
2) World Bank (WB)
1818 H Street, NW Washington, DC 20433 USA
Tel : (202) 473-1000
https://www.worldbank.org/
