CreditAccess Grameen Enters Into Co-Financing Arrangement With DEG and Citi

CreditAccess Grameen announced that it has raised Euro 25 million from the German Investment Corporation, DEG, and INR 170 crore from Citi through a co-financing facility. In this new collaborative agreement, Citi acted as the Lead Arranger and Coordinator.

This long-tenor co-financing arrangement is one of its kind in the Indian microfinance industry, representing a significant step in strengthening CA Grameen's funding profile to further its mission of providing affordable financial services to women entrepreneurs across India. Innovative blended finance tools, such as co-financing facility, enable development finance and private sector partnerships to mobilize funding towards sustainable development. Such support would significantly contribute to the growth of the microfinance sector, enabling it to reach both underserved and unserved communities.