International Finance Corporation (IFC) has signed a partnership with Indian nonbanking finance company, PTC Financial Services. The member of the World Bank Group will support smaller infrastructure firms in developing sustainable and renewable sources in India.
As a part of the partnership, IFC will provide $50 million to help PTC Financial extend its reach in financing renewable-energy projects and help in building the company’s capacity to evaluate proposals for clean- and renewable-energy projects. It will also make financing available to smaller firms and help bridge the gaps in infrastructure financing in the country.
