Press Esc to close
Friday 24 October 2014
News updated at 5:28 PM IST
Weather
Max: 0°C
Min : 0°C
In Bangalore
Sunny day

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
Hindu priest performs evening prayers called 'Aarti' on the banks of the river Yamuna...

Hindu priest performs evening prayers called 'Aarti' on the banks of the river Yamuna...

Dakshineswar Temple decorated with lights for the Kali Puja and Diwali at North 24 Pargana...

Dakshineswar Temple decorated with lights for the Kali Puja and Diwali at North 24 Pargana...

Firecrackers light up the sky as people celebrate Diwali festival in Mumbai...

Firecrackers light up the sky as people celebrate Diwali festival in Mumbai...

School students lighting earhen lamps at Tulsi Ghat in Varanasi...

School students lighting earhen lamps at Tulsi Ghat in Varanasi...

A view of decorated Madan Mohan Malviya Stadium with oil lamps during Deepwali festival...

A view of decorated Madan Mohan Malviya Stadium with oil lamps during Deepwali festival...

Illuminated Golden Temple on the eve of Diwali in Amritsar...

Illuminated Golden Temple on the eve of Diwali in Amritsar...

Children with special needs light firecrackers as they celebrate Diwali...

Children with special needs light firecrackers as they celebrate Diwali...

Border Security Force (BSF) soldiers enjoy Diwali celebrations on the eve of Diwali...

Border Security Force (BSF) soldiers enjoy Diwali celebrations on the eve of Diwali...

Hindu priests light oil lamps in a formation of the 'Swastika', a Hindu symbol of peace...

Hindu priests light oil lamps in a formation of the 'Swastika', a Hindu symbol of peace...

A Border Security Force (BSF) soldier lights sparklers on the eve of Diwali...

A Border Security Force (BSF) soldier lights sparklers on the eve of Diwali...

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