IFC completed the acquisition of a 4.99% stake in Federal Bank for $126m.

IFC, a provider of investment, advisory, and asset-management services, completed the acquisition of a 4.99% stake in Federal Bank, an Indian bank, for $126m. "This move is in line with IFC's strategy to support green growth by spurring investments to build back better and greener, seizing the opportunities to help India meet its climate goals and build a greener, resilient future. The investment is also expected to create tens of thousands of jobs, with micro, small and medium sized enterprises gaining access to much needed financing, which will also help ensure an inclusive recovery," Roshika Singh, IFC India Acting Country Manager.