International Finance Corp bets big on India’s microfinance sector

Tuesday, June 7, 2016

Multilateral funding agency International Finance Corp (IFC) is betting big on the microfinance sector, the only arm of the financial services industry that continues to show robust growth.

The World Bank affiliate IFC is set to invest Rs 300 crore in TPG Capital and Citigroup backed-Janalakshmi Financial Services and another Rs 135 crore in CreditAccess Asia promoted Grameen Koota Financial Services.

The investments are likely to be decided by first week of July.

IFC on Friday revealed that it is considering to invest $50 million, or about Rs 330 crore, in Janalakshmi Financial Services in form of a senior debt investment.

Source: DNA India (link opens in a new window)

financial inclusion, impact investing, microfinance