IFC eyes $10B India target
- The International Finance Corporation, the World Bank Group’s private-sector arm, said on April 24 it wants to raise annual investments in India to $10 billion by 2030. - IFC’s India commitments have already climbed to about $5.4 billion in fiscal 2024-25 from roughly $1.3 billion in 2021-22, with renewables, urban infrastructure and finance at the center. - India is already IFC’s largest country portfolio, and the lender has begun direct city financing with a $60 million Visakhapatnam deal. (ifc.org)
The International Finance Corporation said on April 24 it wants to raise its annual investments in India to $10 billion by 2030. (economictimes.indiatimes.com) Imad Fakhoury, IFC’s South Asia regional director, told Reuters the push will target renewable energy, urban infrastructure and financial services. He said IFC is also exploring municipal bond financing with Indian states. (business-standard.com) (economictimes.indiatimes.com) The target would be a sharp step up from about $5.4 billion of annual India investments in fiscal 2024-25, compared with roughly $1.3 billion in 2021-22. Reuters reported those figures from Fakhoury’s interview. (business-standard.com) India already accounts for IFC’s largest country exposure. IFC said in 2024 that its India portfolio was more than $8 billion, with 32 funded projects spanning finance, jobs and climate-related investments. (ifc.org) That helps explain why the institution is moving beyond company lending into city-level infrastructure. In September 2025, IFC committed up to $60 million to the Greater Visakhapatnam Municipal Corporation in its first municipal financing in India and the first development-finance investment to an Indian city without a sovereign guarantee. (ifc.org) (disclosures.ifc.org) The India plan also comes as the World Bank has kept highlighting the country’s relative growth strength. In its September 2024 India Development Update, the Bank said India grew 8.2% in fiscal 2023-24 and remained the fastest-growing major economy. (worldbank.org) Globally, IFC said it committed a record $71.7 billion in fiscal 2025, including mobilized funds from other investors. That matters in India because IFC often uses its own balance sheet to draw in private capital for longer-tenor projects that commercial lenders may avoid. (ifc.org 1) (ifc.org 2) Fakhoury said IFC would stay on its India path despite global uncertainty. The next test is whether municipal finance and private-capital mobilization can lift annual commitments from today’s level to the 2030 target. (business-standard.com)
