City Union Bank Secures $50M Commitment from IFC for MSMEs Green Transition

City Union Bank Ltd (CUB) has announced a USD 50 million commitment from the International Finance Corporation (IFC), a member of the World Bank Group. The funding aims to help Micro, Small, and Medium Enterprises (MSMEs) adopt energy-efficient and cost-effective solutions, accelerating their shift toward sustainable growth. The IFC investment reinforces CUB’s focus on supporting sustainable development and innovation in the MSME sector. The partnership is expected to help India move closer to its net-zero emissions goal by 2070, while enhancing economic resilience through green financing initiatives. MSMEs contribute nearly 30% of India’s GDP, but continue to face challenges due to high energy costs. The IFC-CUB collaboration seeks to enable these enterprises to access renewable and efficient energy solutions-reducing operational expenses, improving productivity, and strengthening their long-term competitiveness.