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India : IFC offers $25-million debt aid to AU FINANCIERS

July 3, 2014

IFC declared that it has proposed a $25-million debt aid to AU Financiers for onward investments, principally into medium and small private units.

IFC is the investment wing of the World Bank. Anup Agarwal, senior investment officer of IFC, stated that since 2010, the non-deposit taking Rajasthan-based NBFC has got 3 rounds of equity investments from IFC.

He commented This month, we are allowing the first debt funding to it. The NBFC, active especially in the vehicle funding segment, faced a business downturn following the economic slowdown.

IFC has promised investments of $4.5 billion in India. It has been financing SIDBI and large private banks like ICICI Bank, HDFC Bank, YES Bank and Kotak Mahindra. It also has been funding NBFCs such as Cholamandalam and Bandhan.

Additionally, it has conducted grants to private equity and venture capital funds of Motilal Oswal, Aavishkar, Pragati, Venture East and Lighthouse for investments into the MSME sector, and made direct selective investments in small and medium enterprises or start-ups.

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Source: TendersInfo (India)

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