The report highlighted the IFC’s involvement in the Mahan plant in
India, where it provided millions of dollars in funding to two banks,
IDFC and ICICI, which are “major players in India’s infrastructure and
industrial sectors”. It noted that “in total, these two IFC-supported
banks helped provide approximately $1.9 billion in financing to build
the Mahan coal plant”. The report also disclosed that “the IFC’s support
for the project did not end there” as it enabled the development of a
nearby mine which Greenpeace found “would displace or otherwise harm
50,000 people who lived in the forest or depended on it for their
livelihoods”.
