IFC Invests $100 Million in Mahindra Finance for Loans to Farmers

IFC, a member of the World Bank Group, has invested INR 6.4 billion ($100 million) in Mahindra & Mahindra Financial Services Ltd. This investment will enable Mahindra Finance to augment its growth by extending loans to individuals, including farmers, to buy tractors, vehicles and other equipment, along with financing small and medium enterprises. 

The investment in Mahindra Finance, the country’s leading rural finance company and India’s largest tractor financier that reaches more than half of India’s 600,000 inhabited villages, will be through secured non-convertible debentures.