German financial institution invests $20 million in Annapurna Finance

DEG, a German general development finance institution, has made equity investment of Rs 150 crore ($20 million) in Annapurna Finance, Odisha-based Micro Finance Institution. 

Besides improving capital base, DEG investment would be used for enhancing credit formal financing eco-system women borrowers in rural India. 

After the first wave of Covid-19, DEG would be the second capital investment raised by the Annapurna, following attracting $30 million invest­ment from Nuveen Global Impact Fund in March 2021.