ADB and HSBC India partners to establish $100 million Partial Guarantee Program for Microfinance in India
- Manila-based Asian Development Bank (ADB) has signed an agreement with HSBC India to establish a USD 100 million partial guarantee programme to support micro-borrowers with special weightage to women-run micro-enterprises across India.
- Under the deal, HSBC will expand its lending to microfinance institutions (MFIs) and non-bank finance companies, while multilateral funding agency, ADB will provide partial guarantee to the loans.
- The initiative will support more than 4 lakh borrowers.
- It has also been decided that an aggregated financing equivalent to $30 million will be disbursed to three MFIs across India by April 2022.
Points to Remember:
- HSBC India has inked agreement with which financial body to establish USD 100 million partial guarantee programme for MFIs?
- What is the total size of the partial guarantee programme launched by ADB and HSBC India for MFIs?
- HSBC India – Mumbai
- ADB- Manila, Philippines