Business and Finance Business and Finance
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CreditAccess Grameen raises approx Rs 390 crore in co-financing from DEG and Citi

CreditAccess Grameen raises approx Rs 390 crore in co-financing from DEG and Citi


Published on 2024-11-29 06:30:53 - Bill Williamson, WOPRAI
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  • Euro 25 million (around Rs 223 crore) was raised from the German Investment Corporation DEG and Rs 170 crore from Citi in a co-financing arrangement.

CreditAccess Grameen, a microfinance institution, has secured approximately Rs 390 crore in co-financing from DEG, a German development finance institution, and Citibank. This funding is aimed at supporting micro-entrepreneurs, particularly women, in rural and semi-urban areas of India. The investment will help expand CreditAccess Grameen's reach and enhance its capacity to provide financial services to underserved communities. The partnership with DEG and Citibank not only provides capital but also aligns with the broader goal of promoting financial inclusion and sustainable development in these regions.

Read the Full The Financial Express Article at [ https://www.financialexpress.com/business/sme-creditaccess-grameen-raises-approx-rs-390-crore-in-co-financing-from-deg-and-citi-3680164/ ]
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