To support micro, small and medium enterprises in India
Yes Bank announced that it has teamed up with the Overseas Private Investment Corporation (OPIC), the U.S. Government's Development Finance Institution, by signing a memorandum of understanding to explore OPIC financing of up to $ 220 million to increase lending to micro, small and medium enterprises (MSMEs) in India. Specifically, $100 million of the financing would be used to support either Micro-SMEs or SMEs in undeserved rural and urban markets. U.S.-based Wells Fargo, N.A., will act as sponsor and co-lender to the project.Powered by Capital Market - Live News