International Finance Corporation (IFC) part of the World Bank Group has proposed to loan up to $150 million to Bajaj Finance Ltd.

According to IFC, the proposed $150 million senior loan for up to five years to Bajaj Finance will enable the company to expand its lending to micro, small and medium enterprises (MSME) and women owned MSMEs.

Bajaj Finance will increase its lending to MSME segment to about $600 million.

Headquartered in Pune, Bajaj Finance part of the Bajaj Group is the third largest non-banking finance company (NBFC) in India with $4.9 billion equity base and $22.3 billion asset base as of December 31, 2020, IFC said.

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