ADB and HSBC India establish $ 100 mn guarantee plan for microcredit

ADB and HSBC programme will help women running small businesses and microfinance institutions lending after the pandemic.

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Photo: Reuters

Abhijit Lele Mumbai
The Asian Development Bank (ADB) and HSBC India have signed an agreement to establish a $100 million partial guarantee program to support more than 0.4 million micro-borrowers, especially women running small businesses.

The agreement will provide financing of an equivalent of $30 million that will be initially disbursed to three micro finance institutions (MFIs) in India by April 2022. The partial guarantee arrangement will help MFIs to access funding for on-lending activities as they expand operations after the coronavirus pandemic.

ADB, a Manila-based multilateral funding agency, in a statement said HSBC will expand its lending to microfinance institutions (MFIs) and

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First Published: Mar 31 2022 | 11:11 AM IST

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