Continuing support for both women-owned and SME businesses
Female entrepreneurs, along with small and medium sized enterprises (SMEs), are a leading driver of economic growth in India. On July 13, OPIC reaffirmed its commitment to these sectors of the economy by agreeing to increase lending support.
OPIC signed an agreement with YES BANK and Wells Fargo last Thursday, granting a total loan of $150 million to increase YES BANK’s lending capacity in India. $50 million of the financing will be directed towards supporting women-owned businesses, while another $50 million will finance SME businesses in low-income states.
This partnership follows two previous agreements between OPIC and YES BANK, highlighting both group’s dedication to female entrepreneurs and lesser financed markets in India. With a strong and growing entrepreneurial class in India, the support of this signing goes a long way in ensuring that businesses have access to finance. Just as OPIC has supported previous SMEs and women-owned businesses, the goal here is to see India continue on its path of economic growth.