CreditAccess Grameen, a Non-Banking Financial Company-Micro Finance Institution (NBFC-MFI), has secured approval for a $50 million commitment from the International Finance Corporation (IFC).
IFC’s investment will help enhance micro-entrepreneurs access to finance, with a particular focus on women borrowers engaged in agriculture and agri-related activities. The funding will help CA Grameen reach 3-4 million additional women borrowers over the lifecycle of the project. Micro, small, and medium-sized enterprises (MSMEs) are crucial to India’s economy but often face a financing gap.
Nilesh Dalvi, Chief Financial Officer of CreditAccess Grameen, said, “We deeply value our enduring partnership with IFC, whose continued support has been instrumental in our growth journey. With this USD 50 million commitment from IFC under the external commercial borrowing (ECB) route, we are firmly moving towards our FY28 medium-term strategy of sourcing 25%-30% of funds from foreign sources while maintaining strong control over our average cost of borrowings. We remain confident in our ability to deliver innovative financial solutions to underserved communities while ensuring resilience in an ever-changing market landscape.”
Wendy Werner, IFC Country Head for India and Maldives, said, “Financial inclusion is a key driver of economic and social development especially in agriculture sector. Our long-standing partnership with CA Grameen aims to address barriers to accessing financial products and services, while also improving their usage and quality. IFC’s investment will foster greater competitiveness within India’s financial sector and we look forward to supporting the company in long-term. Together, we will help bring more individuals engaged in agriculture and agri-related activities into the formal economy, encourage the growth of women-owned micro-enterprise portfolios, particularly targeting underserved and harder-to-reach rural areas.”
