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The deal marked the bank s second investment in India, furthering their commitment to provide support for the underserved in the rural areas of the country. The bank Bank Im Bistum Essen eg (BIB) earlier invested in Fusion Microfinance. ....
Fusion Microfinance raises 10 million euro in debt from BIB SECTIONS Share Synopsis The capital will help the Delhi-based MFI to on-lend to women borrowers from low-income households, increasing their access to finance. Getty Images 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. ....