India: IFC to provide up to $20m debt to RGVN Microfinance
Saturday, April 1, 2017
IFC (International Finance Corporation), a member of the World Bank Group, will provide up to $20 million to RGVN (North East) Microfinance Ltd in the form of a senior debt investment, according to an IFC disclosure.
Guwahati-headquartered RGVN is an RBI-registered NBFC which facilitates loans to health, education and livelihood sectors in North Eastern region.
The company has a Rs 6.1 billion ($89 million) assets under management across six North-Eastern states including Sikkim, Meghalaya, Tripura, Nagaland, Assam and northern part of West Bengal, and operates through 133 branches.