IndusInd Bank takes USD 225 mn loan from OPIC to support MSME lending programme

New Delhi, June 16 (KNN) In order to support the micro, small and medium enterprises (MSME) lending programme, IndusInd Bank has taken USD 225 million loan from Overseas Private Investment Corporation (OPIC).

As much as 25 per cent of the proposed services will be for supporting women entrepreneurs of India.

This eight-year loan is part of the agency's commitment to supporting USD 1 billion in loans to under-served small and medium enterprises in India.

"Fostering access to finance opportunities for women entrepreneurs and MSMEs is important for increasing higher economic output throughout India," said acting OPIC President and Chief Executive Officer Dev Jagadesan, according to a media report.

He further added, "OPIC recognizes the positive impact supporting women entrepreneurs can have in a community. We are proud to partner with IndusInd Bank to expand access to critical financial services."

OPIC was started by the US Government that supports American Business to invest in emerging markets.

OPIC provides businesses with the aids to manage the risks associated with FDI, fosters economic development in emerging market countries. It also advances US foreign policy and national security priorities

All OPIC projects have to adhere to best international practices and are not allowed to cause job loss in the United States.