 "Microfinance 2")
International Finance Corporation (IFC), a member of the World Bank Group, is planning to put around $50 million (around Rs 3.5 billion) in the form of a sub-debt investment in Ujjivan Small Finance Bank. The financial institution would use these funds for on-lending to micro small and medium enterprises (MSMEs), SMEs and women-owned enterprises.
The investment is said to help expand access to microfinance for borrowers with little or no access to formal sources of financing, such as those in India’s low-income states with some of the highest population densities and poverty rates, according to IFC.
IFC said its
