IFC to invest $1 bn in India for green buildings

Have a long-term outlook | Timing investment is logically impossible because the best entry and exit opportunities are known only in hindsight. No one can predict market movements with certainty. Therefore, it is important to allow your investments to compound over a long term.

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

live

• bselive
• nselive

Volume

Todays L/H

More

×

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 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 sustainability development projects in India since 2005, he said, adding it will continue to participate in the country's various development initiatives.

"Given the scale of the challenge we want to influence the ecosystem so we can build a more sustainable and greener India," he added.

IFC is focused on the private sector in emerging markers and is working with more than 2,000 businesses worldwide, he said.