YES Bank signs MoU with IFC

This significant co-financing agreement, launched by IFC and Goldman Sachs 10,000 Women, is part of the Women Entrepreneurs Opportunity Facility (WEOF), the first-of-its-kind global facility dedicated to expanding access to capital for approximately 100,000 women entrepreneurs.

Apr 14, 2016 03:04 IST India Infoline News Service

News Newspaper Text
YES BANK is availing a USD50 million loan from International Finance Corporation (IFC) Washington, a member of the World Bank Group, to be used exclusively to lend to women-owned businesses. The MoU was concurrently signed at the Institute of International Finance: ‘Fulfilling India’s Potential’ Conference, which was attended by Finance Minister Arun Jaitley on April 5 in New Delhi.
This significant co-financing agreement, launched by IFC and Goldman Sachs 10,000 Women, is part of the Women Entrepreneurs Opportunity Facility (WEOF), the first-of-its-kind global facility dedicated to expanding access to capital for approximately 100,000 women entrepreneurs.
Through this USD50 million loan, YES BANK aims to support women in all 29 states and 7 union territories in India, thereby playing a pivotal role in strengthening the entrepreneurial ecosystem for women and directly impacting livelihoods. YES BANK takes significant pride in this partnership with global institutions such as IFC and Goldman Sachs 10,000 Women, to expand access to finance to unbanked and under-served populations and achieve our vision of Responsible Banking.
YES BANK is committed to partnering with leading global DFIs and stakeholders to provide access to capital and boost women entrepreneurship in India’s MSME sector, thereby generating a multiplier effect on job creation and consequently on the Indian economy.

Related Story