World Bank Group member International Finance Corporation (IFC) has proposed to extend a green loan of up to $150 million in Kerala Infrastructure Investment Fund Board (KIIFB), an infrastructure funding agency owed by India’s Kerala State.
The proposed investment, which will be in the form of a local currency green financing package, will have a tenor of up to 10 years, with a two-year grace period. In a disclosure, IFC said it may also mobilise around $50 million equivalent in Indian rupees from parallel lenders.
