IFC to lend $100 million to Shriram Transport Finance
26th Jul 2019

The International Finance Corporation (IFC) will lend $100 million of the $200 million to support Shriram Transport Finance to finance truck purchases and small businesses.

The development finance institution has already put in $41 million which is 50 percent of the first installment of $82 million and it will facilitate a total of $200 million of funds for the truck financing company as part of the deal of it will chip in with 50 percent.

IFC will put in half of the total amount, or $100 million, by itself, while the rest will be mobilised from partners.

Shriram Transport Finance Company is a flagship company of the Chennai-based Shriram group and is classified as deposit taking Asset Financing NBFC.