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

Written By Sushma Singh

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.

Subscribe to Moneymint Weekly

Every Sunday we email people like you with top tips, insights and opportunities to manage your finances and build your online business. No hype, no scams, no fake gurus. Sign up below to get the next one.

Please enter a valid email address
That address is already in use
The security code entered was incorrect
Thanks for signing up

Sushma is a full-time blogger and financial expert. Join Sushma and 10,000 monthly readers here to learn how to save and invest your money wisely.

Disclaimer: The content on this site is for informational and educational purposes only and should not be construed as professional financial advice. Should you need such advice, consult a licensed financial or tax advisor. References to products, offers, and rates from third party sites often change. While we do our best to keep these updated, numbers stated on our site may differ from actual numbers. See our Privacy Policy & Disclaimer for more details.