Invest in Visions Mikrofinanzfonds Lends $36 Million To Indian MFIs Asirvad Microfinance, Sonata Finance
Invest In Visions Mikrofinanzfonds, a Germany-based fund managed by Invest In Visions, recently made a loan of EUR 30 million (USD 35.6 million) to two Indian microfinance institutions, Asirvad Microfinance and Sonata Finance. Asirvad received EUR 25 million (USD 29.6 million) and Sonata received EUR 5 million (USD 5.9 million). Both microfinance institutions serve low-income female customers in India, and as of June 2020, they intend to use the IIV funds to disburse microloans to their client base in order to encourage business expansion and entrepreneurship.
Photo courtesy of Nicoexpose.