The World Bank Group entity International Finance Corporation (IFC) is partnering with JC Flowers to help domestic lenders resolve their distressed assets and free up capital for new lending apart from allowing mid-sized firms to preserve jobs and avoid insolvency amid the raging pandemic. Under the project, which is an expansion of IFC’s distressed asset recovery programme in India,IFC will invest up to USD 100 million in the JC Flowers India opportunities fund on meeting certain conditions, with an initial commitment of USD 40 million. This partnership will create the first dedicated platform in India for mid-sized distressed assets, which account for USD 27 billion – more than a third – of corporate stressed assets. This partnership aims to support an inclusive economic recovery and revitalisation of the economy, promote credit growth, and ensure the continuity of hardest-hit businesses and livelihoods. JC Flowers India opportunities fund is a partnership with Eight Capital Management, an Indian distressed assets investment firm.