NBFC Vivriti Capital raises $25-M from ADB for climate finance project

Chennai-based non-banking financial company (NBFC) Vivriti Capital has raised USD 25 million from the Asian Development Bank, through a senior secured debt facility with a tenure of four years. This is the first climate bond issued by the NBFC.The funds will be used for its sustainability-focused Vivriti Capital Climate Finance Project. About 30% of the funds will be allocated to financing the EV ecosystem, including charging stations and battery swapping infrastructure, and on-lending to retail borrowers for the purchase of new EVs. The funds will also be used to support enterprise and retail borrowers across renewable energy segments and waste management.