International Finance Corporation (IFC), the private sector investment arm of the World Bank Group, has proposed to extend debt investment worth up to $25 million to Greenlam, one of the largest laminate manufacturers in India.
Greenlam plans to use the proceeds to part-finance greenfield manufacturing facilities for high-pressure laminates, and particleboard, an engineered wood product manufactured from wood chips, to be housed in its wholly-owned subsidiary – Greenlam South Ltd.