MicroVest Invests $10 Million in Annapurna to Support Financial Inclusion for Women in India

MicroVest has announced an investment in Annapurna, a leading microfinance institution located in Odisha, India. The $10 million investment aims to promote economic inclusion in underserved rural communities, with a specific emphasis on empowering women in the country. Additionally, the investment will help Annapurna expand its services to reach more individuals in rural areas and grow its loan portfolio.

A recent IFC study estimates that 90 percent of female entrepreneurs in India do not receive financing from formal institutions, with respondents stating that personal resources are their most preferred option for finance. Furthermore, women entrepreneurs seeking to scale-up their businesses must also grapple with challenges such as limited product awareness and/or financial literacy.