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Yes Bank Receives $150 Million From OPIC
July 24, 2017
In what’s to support SME funding in India, private sector Yes Bank has received $150 million funding from Wells Fargo and the US government. It was the third round of investment as per the bank’s agreement with Overseas Private Investment Corporation (OPIC) that aims at increasing investment opportunities for the small and medium enterprises of India.
Both OPIC and Wells Fargo Bank will provide $75 million each to Yes Bank as part of an agreement. The lender said that $50 million of the funding will be used for financing SMEs while another $50 million will be solely used for supporting women-owned businesses.
