FM Nirmala Sitharaman Urges IFC to Scale Up India Lending to $3.5 Billion in 3-4 Years

economictimes.indiatimes.com

India expects the International Finance Corporation to raise its lending to the country to $2 – 2.5 billion in the next one or two years and to $3 -3.5 billion in the next 3-4 years. Finance minister Nirmala Sitharaman conveyed this to IFC managing director Makhtar Diop a meeting on Monday. Diop, who is visiting the country, said the world Bank’s private sector investment arm adopt a proactive approach to enhance investment in the country and extend financing to micro, small and medium enterprises (MSMEs) to enable capacity building for supplementing India’s efforts to become a manufacturing hub, the finance ministry said in a series of tweets. Read More