Sitharaman seeks improved lending from the International Finance Corporation

New Delhi, September 19 (IANS): Finance Minister Nirmala Sitharaman on Monday underscored India’s expectations of improved lending from the International Finance Corporation (IFC) of between US$2 billion and US$2.5 billion over the next one to two years, and by up to in the next three to four years to get 3 to 3.5 billion US dollars.

She expressed these expectations during her meeting with IFC Chief Executive Makhtar Diop, who was visiting.

Diop discussed IFC lending in India, particularly in micro and medium-sized enterprises (MSMEs), infrastructure and climate management, the Treasury said in a series of tweets.

He shared IFC’s views on expansion in India, stating that the organization will take a proactive approach to increase investment in the country and extend funding to MSMEs to enable capacity building to support India’s efforts to become a manufacturing hub to become, to supplement.

Diop also highlighted the potential to explore sub-national finance for sustainable growth and mobilize finance for women entrepreneurs.

IFC is an international financial institution providing investment, advisory and wealth management services to promote private sector development in less developed countries. It is a member of the World Bank Group and is headquartered in Washington DC

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