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IndusInd Bank to Raise $225 mn for MSMEs Development
June 15, 2017
IndusInd Bank has teamed up with Overseas Private Investment Corporation to raise a $225 million loan for the development of Micro Small and Medium Enterprises in the country. About 25% of this loan would be used for supporting women entrepreneurs and the people from remote areas of the country who didn’t have access to banking services.
IndusInd Bank’s 8-year loan of $225 million will be used to disburse loans worth $1 billion to the deserving small and medium enterprises, the bank’s statement said.
Wells Fargo Bank has also signed a $20 million loan agreement to support IndusInd Bank in its endeavor.
