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ADB adds $50 mn to fund Asian MSMEs

The Asian Development Bank is providing an additional $50 million in assistance for a successful microfinance program which is supporting growth and employment opportunities for large numbers of micro, small and medium-sized enterprises across Asia. To date ADB has provided support equivalent to $207 million in loans to over 30 microfinance institutions in India, as well as Indonesia. Among the India-based private financing institutions taking part in the program are Induslnd Bank, Kotak Mahindra Bank, Federal Bank and RBL Bank. Standard Chartered Bank is partnering with ADB in the risk participation structure. The program has been implemented through a risk participation and guarantee structure. Under the program, ADB selects partner financial institutions that provide local currency loans to ADB-approved MFIs.

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