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CreditAccess Grameen enters into co-financing arrangement with DEG and Citi

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CreditAccess Grameen announced that it has raised Euro 25 million from the German Investment Corporation, DEG, and INR 170 crore from Citi through a co-financing facility. In this new collaborative agreement,
CreditAccess Grameen, a microfinance institution, has entered into a co-financing arrangement with Deutsche Investitions- und Entwicklungsgesellschaft (DEG) and Citibank, securing a $20 million loan. This partnership aims to enhance financial inclusion and support micro-entrepreneurs in India by providing them with necessary capital. The funds will be used to expand CreditAccess Grameen's lending operations, thereby fostering economic growth at the grassroots level. This move not only strengthens the company's balance sheet but also aligns with its mission to empower underserved communities through accessible financial services.

Read the Full Business Standard Article at [ https://www.business-standard.com/markets/capital-market-news/creditaccess-grameen-enters-into-co-financing-arrangement-with-deg-and-citi-124112900638_1.html ]