Debt

Debt financing

City Union Bank secures $50-M from IFC for green financing to MSMEs

IFC Disclosure   Business Line  

City Union Bank has secured a USD 50 million commitment from the International Finance Corporation (IFC), a member of the World Bank Group. This financing is intended to support Micro, Small, and Medium Enterprises (MSMEs) in their transition to energy-efficient and cost-effective solutions.The funds will primarily be utilized for new onward lending and the refinancing of solar power-related loans for MSMEs. The bank has experienced significant growth in solar power lending and noted demand from MSMEs for wind energy financing. This initiative aligns with the bank's commitment to sustainable development and supports India in achieving sustainable growth and low-carbon emissions.