International Finance Corporation, the private investment arm of World Bank plans to invest up to $40 million in Indian micro finance institution Ujjivan Financial Services in form of a senior debt investment.
In September last year, Ujjivan was one of the 10 recipients of the Small Finance Bank License (SFB). And to meet the noms laid down by the Reserve Bank of India, foreign investors in the firm including IFC, Elevar and India Financial Inclusion Fund, Dutch development finance institution FMO, among others had pared their stake through a public listing on the BSE.
