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FMO provides $25m debt financing to Indian NBFC Northern Arc April 8, 2021 Dutch development bank FMO has provided debt financing of $25 million to Indian non-banking financial company (NBFC) Northern Arc, it said in a statement. The Chennai-based digital debt platform said it will use the capital for on-lending to financial institutions that focus on women borrowers, micro-entrepreneurs and SMEs. This is the fourth investment secured by Northern Arc in the last 12 months. It has attracted debt financing from global development financial institutions and impact investors including US International Development Finance Corporation, Asian Development Bank and Calvert Impact Capital. In its statement, FMO said its investment will benefit microfinance borrowers in both urban and rural areas, including under-banked households and small businesses, as well as microlenders catering to women, all of whom have been hit hard by the COVID-19 crisis.

India generalTamil naduSumitomo mitsui banking corporationUs international development finance corporationAavishkaar groupAsian development bankNorthern arcDevelopment finance corporationCalvert impactAffirma capitalStandard chartered private equityDvara trustEight roadsSumitomo mitsui bankingNorthern arc investmentsNeogrowth credit