NEW DELHI -- The International Finance Corporation, a member of the World Bank Group, has proposed a debt investment of up to $100 million in India's AU Small Finance Bank (AUSFB). Concurrently, it has proposed an equity investment of up to $40 million in Vastu Housing Finance, a non-banking financial company.
The AUSFB investment will take the form of an IFC A Loan for a tenor of up to seven years. AUSFB will use the proceeds to grow its business of providing affordable housing loans for the purchase or construction of houses in India, the IFC said in a disclosure.
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