Northern Arc has secured $65 million in debt commitments for its maiden Climate Fund.
The debt commitments include $50 million from the United States International Development Finance Corporation (DFC) and $15 million from OeEB, the official Development Bank of the Republic of Austria.
The climate fund will provide debt financing to businesses involved in energy efficiency, green buildings, e-mobility, sustainable agriculture, and solar energy.
The fund aims to promote sustainable development and support climate-driven enterprises in India.