The US government firm Overseas Private Investment Corporation (OPIC) has extended $5 million loan to Grameen Impact Investments in India to support domestic small and medium enterprises in the country. The finance will come through IndusInd Bank in the form of a loan guarantee agreement. The bank will extend the funds through its Impact Investing division, which will support Grameen Impact’s lending to local small and medium enterprises. The bank said in a statement the OPIC guarantee has enabled the bank to disburse an equivalent of Rs 33.5 crore loan to Grameen Impact. Grameen Impact will use the financing to give loans to high impact social enterprises in India in sectors including financial services, affordable healthcare, affordable education, renewable energy and sustainable agriculture. Grameen Impact is backed by Grameen Capital India, whose shareholders include Acumen and other leading impact investors. Royston Braganza, CEO, Grameen Impact Investments, said through this funding, IndusInd Bank is furthering Grameen Impact’s commitment to build a ‘capital-with-a-conscience’ ecosystem.
