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News: International Finance Corporation’s collaboration with Axis Bank marks the IFC’s first ever blue investment in India.
1. International Finance Corporation (IFC): It is a member of the World Bank Group and focuses on promoting private sector investment in developing countries.
2. It is regarded as the largest global development institution focused on the private sector in emerging markets.
3. Important Functions: A) Investment B) Advisory Services C) Mobilizing Capital
4. Blue Finance: It is a subdomain within climate finance that focuses on channelizing financial flows into ocean related activities, ensuring a sustainable blue economy.
5. Blue bonds and blue loans are financial tools designed to raise capital for projects that have positive environmental impacts on oceans and freshwater ecosystems.
