Press Esc to close

IFC releases $150-m loan for YES Bank

Mumbai, December 23, 2013, DHNS: 23:07 IST
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

More from this section
Most trending stories
Photo Gallery
Hundreds of vehicles stranded at Jammu-Srinagar national highway as it remained closed...

Hundreds of vehicles stranded at Jammu-Srinagar national highway as it remained closed...

Prime Minister Narendra Modi receiving a memento from FICCI president Pankaj Patel at the 90th...

Prime Minister Narendra Modi receiving a memento from FICCI president Pankaj Patel at the 90th...

Tourists enjoy the weather after a fresh snowfall at Mahasu peak in Kufri near Shimla on Wednesday..

Tourists enjoy the weather after a fresh snowfall at Mahasu peak in Kufri near Shimla on Wednesday..

Prince William, Duke of Cambridge, left, and Prince Harry on the red carpet as they attend...

Prince William, Duke of Cambridge, left, and Prince Harry on the red carpet as they attend...

India's captain Rohit Sharma celebrates his double-century during the second ODI cricket match...

India's captain Rohit Sharma celebrates his double-century during the second ODI cricket match...

A leopard after it fell into a well at Bamungaon in Guwahati on Wednesday....

A leopard after it fell into a well at Bamungaon in Guwahati on Wednesday....

Prime Minister Narendra Modi, former Prime Minister Manmohan Singh, senior BJP leader LK Advani...

Prime Minister Narendra Modi, former Prime Minister Manmohan Singh, senior BJP leader LK Advani...

India's Prime Minister Narendra Modi (C) pays homage to the victims of the December 2001 parliament.

India's Prime Minister Narendra Modi (C) pays homage to the victims of the December 2001 parliament.

Bollywood actress Soha Ali Khan with mother Sharmila Tagore and sister Saba Ali Khan at the launch..

Bollywood actress Soha Ali Khan with mother Sharmila Tagore and sister Saba Ali Khan at the launch..

Sunset in Bengaluru on Wednesday...

Sunset in Bengaluru on Wednesday...

Like us on Facebook

Copyright 2017, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523
Powered by Yodasoft Technologies Pvt. Ltd.