The International Finance Corporation (IFC), a part of the World Bank Group, has proposed a debt investment of up to $100 million in Manappuram Finance Limited (MFL), it said in a disclosure.
IFC will invest via three-year non-convertible debentures (NCDs) to be issued by MFL. The investment will help MFL support underserved individuals in the economy with focus on directing a portion of the debt towards women borrowers, IFC said.