The Netherlands-based Oikocredit International has acquired a 12 per cent stake in ESAF Microfinance and Investments Private Limited (EMFIL) through its fully-owned subsidiary Manaveeya Holdings and Investments based in Hyderabad.
With this, the capital base of ESAF has crossed Rs 30 crore. The company aims to utilise the fund to expand its business and reach out to one million poor households by 2014, a press release said.
ESAF currently has over 250,000 clients. Its cumulative disbursement of loans stood at Rs 630 crore, while outstanding loan was at Rs 130 crore.
Oikocredit is a 30-year-old global development financing institution that caters to the needs of businesses, which create jobs and incomes for disadvantaged people.
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