Fusion Microfinance raises 10 million euro in debt from BIB

Fusion Microfinance raises 10 million euro in debt from BIB
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Synopsis
The capital will help the Delhi-based MFI to on-lend to women borrowers from low-income households, increasing their access to finance.
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Northern Arc Capital facilitated the deal.
KOLKATA: Fusion Microfinance has raised 10 million euro (about Rs 88 crore in local currency) in debt from Bank im Bistum Essen (BIB), a Germany-based cooperative bank.
It's BIB's first ever debt funding in India as the overseas firm looks to be a part of India's microfinance story, which is facing challenges as income generation takes a hit among the weaker section of the population amid a raging second wave of the covid pandemic.

Related Keywords

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