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responsAbility Invests USD10 Million in Green Masala Bonds Issued by EFL

India-based non-banking financial company Electronica Finance (EFL) has issued USD10 million in INR-denominated, senior-secured green bonds to impact investment fund manager responsAbility Investments. EFL will use the funds to provide equipment financing for small and medium-sized enterprises (SMEs) in the machine tools, plastics, printing, and packaging industries in India. The company also plans to partner with responsAbility to expand its lending business to solar power equipment for commercial and industrial markets.