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    Home»Business

    IFC and YES Bank announce fund for small business in North-East India

    Sushma SinghBy Sushma SinghNovember 10, 2022 Business
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    IFC, a member of the World Bank Group, and Yes Bank plan to establish a fund to support small and growing businesses in northeast India, an initiative that will promote inclusive and sustainable development in priority sectors.

    IFC and YES Bank announce fund for small business in North-East India

    The partnership will explore new ways to provide loans to enterprises in the remote region, including the creation of a specialized fund to facilitate small investments. Fund size and other details of the partnership are being worked out at this stage. Priority sectors identified for investments include food and agribusiness, infrastructure, healthcare, education, and affordable housing.

    “There are substantial untapped opportunities in the northeastern states of India. Collaborating with IFC will help us leverage our respective capabilities in expanding financial services to the region,” said Rana Kapoor, Managing Director and CEO of Yes Bank.

    Yes Bank plans a strong presence in northeast India, promoting job creation and inclusion. IFC will support and complement these efforts through a combination of its investment and advisory services.

    Last year, IFC provided a $75 million loan to help Yes Bank expand its network to reach underserved people, small and medium enterprises, and agricultural borrowers in India. Given the high growth potential of northeast India and opportunities for greater inclusion, IFC has been collaborating with institutions across sectors to foster economic and social development in the region.

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    Sushma Singh

      Sushma is a seasoned business writer and content creator with over 7 years of experience in the field. She has a talent for taking complex topics and breaking them down into easily understandable language that engages and educates her readers. Her expertise allows her to cover a wide range of topics relevant to the B2B industry, providing business owners with the knowledge they need to make informed decisions and drive growth.

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