Aditya Birla Capital’s 100% subsidiary -- Aditya Birla Finance (ABFL) has received a 7 year long term loan of Rs 1,000 crore from International Finance Corporation (IFC), a member of the World Bank Group. ABFL will use the proceeds to finance renewable energy projects and help the country move towards its target of 175 GW of renewable energy capacity by 2022. ABFL is a well-diversified non-banking finance company (NBFC) with a long term credit rating of AAA from both ICRA as well as India Ratings.
The IFC green loan, sanctioned in March 2018, is an Indian rupee loan under Track III of the Reserve Bank of India’s guidelines for external commercial borrowings.
Aditya Birla Capital is one of the largest financial services players in India.
