International Finance Corp. (IFC), the private-sector investment arm of the World Bank, plans to make a debt investment of up to $75 mn to Manappuram Finance Ltd. Based in Kerala’s Thrissur district, Manappuram Finance is a non-banking financial company (NBFC) focused on providing gold loans. The proposed project comprises a three-year senior, secured debt funding of up to ₹540 crore ($75 mn) to Manappuram Finance. IFC’s three-year loan will provide liquidity and support asset-liability management, especially as Manappuram Finance expands its portfolio into SME and commercial vehicle loans.

(Live Mint)