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