Tag: IFC

JK Tyre ties up with IFC for India’s First Tyre Industry Sustainability-Linked Loan

Stuart Mitchell

International Finance Corporation (IFC) has sanctioned a $100 million Sustainability-Linked Loan (SLL) to JK Tyre, a leading Indian tyre manufacturer with a global presence. The funding includes $30 million to JK Tyre & Industries Limited and up to $70 million for Cavendish Industries Limited (CIL), a subsidiary of JK Tyre. JK Tyre is a flagship company of JK Organisation, a global conglomerate. The funding will support the expansion of tyre manufacturing capacity, focusing on Passenger Car Radial (PCR) tyres at JK Tyre’s Banmore plant in Madhya Pradesh and Truck and…

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IFC Issues Record $2 Billion Social Bond to Support Low Income Communities in Emerging Markets

Stuart Mitchell

IFC, a member of the World Bank Group, issued a three-year social bond, raising $2.0 billion to support low-income communities in emerging markets. The transaction represents IFC’s largest ever social bond, and the largest US dollar denominated social bond issued by a supranational. The orderbook reached a total size of $11 billion, IFC’s largest ever order book for a single bond issuance. It follows a 1 billion Australian dollar denominated social bond issued by the corporation last week.   Announced on Monday, the orderbook grew steadily during the marketing process…

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IFC Anchors First Sustainability-Linked Bond issued by NDR InvIT Trust to Bolster Green Warehousing, Drive Green Growth in the Warehousing Sector

Stuart Mitchell

In a strategic move to boost high-quality and sustainable warehousing infrastructure and promote resource-efficient growth in the warehousing and logistics sector, IFC has invested $75 million (INR 6,300 million) in a domestic local currency (INR) Sustainability Linked Bond (SLB) issued by NDR InvIT, an Infrastructure Investment Trust (InvIT) sponsored by NDR Warehousing Private Limited. This SLB is the first by a warehousing InvIT in India and marks the first SLB issuance by any InvIT in the country. The funding aims to support the expansion of NDR InvIT’s warehousing operations, enhance…

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Rhodes PNG Ltd. Achieves Global First with Triple EDGE Gender Certification

Stuart Mitchell

Prefabricated building and engineering company, Rhodes PNG Ltd. is the first construction and engineering company in the world to be recertified for a third time with EDGE (Equity, Diversity and Gender Equality), the leading global standard for gender equality in the workplace. With technical assistance and advice from the International Finance Corporation (IFC), a member of the World Bank Group, Rhodes has maintained the EDGE standards through its actions and measurable impact on organizational culture, including an increase in the representation of women in management and non-traditional roles; more inclusive recruitment, promotion, and training…

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The ILO and IFC launch a third year-long Community of Practice among insurers to reduce the protection gap for women

Stuart Mitchell

The ILO’s Impact Insurance Facility and the IFC Women’s Insurance Programme have launched the third cohort of the year-long IFC-ILO Women’s Insurance Community of Practice – #In4Women – to raise awareness about the insurance needs of women, and to highlight the market opportunity for insurers if they target women as customers and employees. Following the success of the first two cohorts of the Community of Practice, the partnership continues to impart best practices on how to increase access to insurance for women, allowing for learning and knowledge sharing within the…

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