Press Esc to close
Wednesday 29 June 2016
News updated at 3:27 AM IST
Weather
Max: 27.2°C
Min : 20.8°C
In Bengaluru
Rain lightly

IFC releases $150-m loan for YES Bank

Mumbai, December 23, 2013, DHNS:
Washington-based International Finance Corp (IFC) on Monday announced that it has provided a $150 million to private sector lender YES Bank to expand the lender's access to women-owned small businesses. Reuters File Photo.

Washington-based International Finance Corp (IFC) on Monday announced that it has provided a $150 million to private sector lender YES Bank to expand the lender's access to women-owned small businesses.

The funding by IFC — the private investment arm of the World Bank — includes loan from its own account of $60 million, $45 million syndicated loan from Doha Bank, Intesa Sanpaolo, Bank Muscat, and AKA Frankfurt, and $45 million through the IFC Managed Co-Lending Portfolio Programme, press statement by IFC said. 

IFC Director, South Asia, Serge Devieux said, “Increasing financial access to micro, small, and medium enterprises directly supports job creation, a top priority for IFC in India.”

YES Bank said it will use the loan to increase its lending to small businesses in India's low-income states, including in the north-east region of India. The co-lending Portfolio Programme is a new syndication platform created by IFC that allows institutional investors to passively participate in the organisation's future senior loan portfolio.

YES Bank Managing Director & CEO Rana Kapoor said, “IFC's funding will add much-needed resources to YES Bank's lending program for micro, small, and medium enterprises, helping scale up our loan portfolio for this segment." 


Go to Top

Photo Gallery
Fans holds an national soccer team jersey with the name and number of Lionel Messi...

Fans holds an national soccer team jersey with the name and number of Lionel Messi...

Virat Kohli interacts with children at the launch of Stepathlon Kids...

Virat Kohli interacts with children at the launch of Stepathlon Kids...

Pope Francis, left, and retired Pope Benedict XVI embrace during a ceremony...

Pope Francis, left, and retired Pope Benedict XVI embrace during a ceremony...

Horse-mounted Policemen seen at a road in Kolkata...

Horse-mounted Policemen seen at a road in Kolkata...

An egret takes off in New Delhi on Tuesday...

An egret takes off in New Delhi on Tuesday...

A typist attends a customer at a street flooded after heavy rains outside Court complex...

A typist attends a customer at a street flooded after heavy rains outside Court complex...

Muslims prays inside a mosque during the fasting month of Ramadan in Mumbai...

Muslims prays inside a mosque during the fasting month of Ramadan in Mumbai...

Army persons move towards the house where a Hizbul Mujahideen militant was hiding...

Army persons move towards the house where a Hizbul Mujahideen militant was hiding...

Bollywood actor Arjun Kapoor gestures at an awareness campaign for road safety....

Bollywood actor Arjun Kapoor gestures at an awareness campaign for road safety....

Delhi CM and AAP convener Arvind Kejriwal is welcomed by fishermen community...

Delhi CM and AAP convener Arvind Kejriwal is welcomed by fishermen community...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523