TMFL SME Financing (IFC-42444)

Countries
  • India
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
May 31, 2019
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
TATA MOTORS FINANCE LIMITED
The holder of the loan, grant, or other investment.
Sectors
  • Finance
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 100.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jun 19, 2019

Disclosed by Bank Apr 26, 2019


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Project Description

According to the bank website, "IFC’s investment will be used to support purchase of Commercial Vehicles (CVs) by Small and Medium Enterprises (SMEs) in Low Income States (LIS) of India. The Company will match IFC’s investment of US$100 million with US$300 million from its other sources of funding to create a US$400 million pool for financing CV purchases by SMEs in LIS. TMFL is engaged in the business of financing entire range of Tata Motors manufactured commercial vehicles, and passenger cars."

Investment Description
  • International Finance Corporation (IFC)
Financial Intermediary
Contact Information

Tata Motors Finance Limited
Amit Mittal
Head-Treasury
61729699
tmfgrouptreasury@tmf.co.in
10th Floor, 106 A&B, Maker Chamber III, Nariman Point, Mumbai 400021
http://tmf.co.in

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/