ADB and HSBC India Establish $ 100 M Guarantee Plan for Microcredit
Source: Business Standard
The Asian Development Bank (ADB) and HSBC India have signed an agreement to establish a $100 million partial guarantee program to support more than 0.4 million micro-borrowers, especially women running small businesses.
The agreement will provide financing of an equivalent of $30 million that will be initially disbursed to three micro finance institutions (MFIs) in India by April 2022. The partial guarantee arrangement will help MFIs to access funding for on-lending activities as they expand operations after the coronavirus pandemic.