Citi India, ISDM launch Centre for Innovative Finance and Social Impact

Citi India and Indian School of Development Management (ISDM) on Thursday announced the launch of the Centre for Innovative Finance and Social Impact (CIFSI) to enhance research on innovative financing.

The centre in the national capital will help in raising dialogue among public and private stakeholders to tackle developmental challenges, a joint statement said.

The centre and its objectives resonate with Citi's commitment to seed innovation in financing tools that aid and accelerate social impact in crucial areas such as climate and poverty, Citi India CEO Ashu Khullar said.

The development community is utilising innovative financing tools, such as impact investing and social impact bonds, to draw funds towards programmes that are aimed at solving global challenges, such as alleviating poverty, improving living standards, and conserving the environment, it said.

CIFSI will serve as a platform for social purpose organisations, academia, research, and practitioners to identify and ensure access to social financing approaches for the future, it said.