IFC Makes Debt Investment in Microfinance Entity CreditAccess Grameen

Source: VCCiRCLE

International Finance Corporation (IFC), the private investment arm of the World Bank, has proposed to make a debt investment of up to $50 million (around Rs 423 crore) in listed microfinance firm CreditAccess Grameen Ltd.  

“The proposed IFC investment comprises a senior debt investment of up to $50 million in CreditAccess Grameen Limited (CAGL) for a 3-year tenor. The proceeds will be used towards expanding the company’s portfolio to female borrowers for income generation purposes, specifically in the low-income or rural areas of India,” a disclosure by IFC mentioned.