IndusInd Bank borrows $225 mln from OPIC to expands its MSME business
DSIJ Intelligence / 09 Jun 2017
IndusInd Bank Ltd on Thursday executed a finance agreement for a $225 million loan which is expected to support the bank’s MSME lending programmes across India. The bank took loan for eight years to expand its micro, small and medium enterprise lending programme across India.
IndusInd Bank Ltd on Thursday executed a finance agreement for a $225 million loan which is expected to support the bank’s MSME lending programmes across India.
The bank took loan for eight years to expand its micro, small and medium enterprise lending programme across India.
The Overseas Private Investment Corporation (OPIC) is an US government agency that helps American businesses invest in emerging markets.
According to the statement made by the bank, at least 25 per cent of the proposed facility will support women entrepreneurs and will help bank tap previously unbanked population.
This agreement should help IndusInd Bank to further enhance its MSME lending franchise.
Wells Fargo Bank is the other international financier which has signed a $20 million finance agreement that will support IndusInd Bank’s MSME lending.
IndusInd Bank is trading at Rs 1528.45 per share, up by 0.31 per cent in the opening hour of the market even as the BSE Bankex is down by 0.09 per cent at 26659 levels.