Shriram Finance gets $100 mn funding from ADB for inclusive financing

Money will be used improve the status of underserved communities in India, other objectives

Shriram Finance (SFL), India’s largest retail NBFC and a part of the Shriram Group, has secured a long-term funding of $100 million from the Asian Development Bank (ADB).

The five-year external commercial borrowing (ECB) loan is under SFL’s social finance framework. The fund will enable SFL to provide credit for the purchase of new and used vehicles throughout India. Proceeds from ADB can be used to finance the purchase of BS VI compliant and electric vehicles, specifically by women entrepreneurs, cater to under-developed states of the country, and improve the status of underserved communities in India.

SFL has also raised