IFC to invest $26.5 mn in Pragati India Fund

International Finance Corporation (IFC), a member of the World Bank Group, will invest $26.5 million in a supply chain company and a fund which focus on small and medium enterprises in low-income Indian states. The investment companies include Pragati India Fund and Snowman Logistics. Pragati India Fund is an investment vehicle focuses on small and medium enterprises in low-income Indian states. IFC is planning to invest up to $20 million and will help Pragati India provide growth capital to start-ups outside of major urban centers, creating jobs and promoting inclusive economic growth, according to the Corporation.