IFC Eyes India as Global Development Lighthouse

Six months into his tenure, IFC Regional Vice President Sarvesh Suri is directing the institution's efforts toward job creation by mobilizing private capital.

India stands out as IFC's largest country portfolio, holding approximately $12 billion in exposure and serving as a global model for development financing. Suri emphasizes that India's rapid growth influences IFC's strategy, particularly in job-creating sectors like infrastructure and MSMEs.

The Agri-Connect program, a flagship initiative, aims to boost farmer incomes by improving market access and finance for 88 million farmers across India, Bangladesh, Sri Lanka, Vietnam, and Papua New Guinea by 2030.

IFC's investment strategy is centered on job creation, recognizing the private sector's role in generating employment. Initiatives include enhanced MSME financing through NBFCs and digital platforms, with a target of mobilizing $2.5-3 billion for India's MSME ecosystem.

India's successful development models, from digital innovation to agricultural practices, are being adapted for other emerging markets under IFC's "India Abroad" strategy. This approach leverages India's achievements to foster development solutions globally.

IFC employs a "triple bottom line" approach, ensuring investments are financially sustainable, environmentally and socially responsible, and generate broad economic benefits. The institution also focuses on financing the unbankable MSME segment through technology-driven, cash-flow-based lending.

Infrastructure, digital infrastructure, and municipal financing are key priorities for IFC in India. This includes support for power projects, data centers, and innovative financing models for urban infrastructure, aiming to drive growth and employment.