TestCloud
Prep • Practice • Perform
Log In

International Finance Corporation (IFC) invests Rs. 630 crore in NDR InvIT's SLBS.

Banking & Finance | Dated: 29 Dec 2024

The International Finance Corporation (IFC), based in Washington, DC, USA, and a member of the World Bank Group, has invested USD 75 million (around Rs 630 crore) in India's first sustainability-linked bond (SLB), which is issued in Indian rupees (INR).

🎯 Key Highlights:

  • - The bond was issued by NDR Infrastructure Investment Trust (InvIT), based in Mumbai, Maharashtra, and sponsored by NDR Warehousing Private Limited.
  • - This is the first time a warehousing InvIT in India has issued an SLB.

💡 Other Important Facts:

  • (i) IFC's investment will help NDR InvIT meet its environmental, social, and governance (ESG) goals, including earning EDGE (Excellence in Design for Greater Efficiencies) certification for its warehouse properties.
  • (ii) IFC will also support NDR InvIT in adopting gender-inclusive work practices through the India Gender Collaborative (IGC).
  • (iii) Industry experts predict that warehouse space in India will grow from 300 million square feet (sq. ft.) in FY23 to 500 million sq. ft. by 2030.

📚 Test Your Knowledge:

Which organization has recently invested Rs. 630 crore in NDR InvIT's SLBS?

Correct Answer: IFC

🚀 Quick Recap: