Non-banking financial company-microfinance institution, CreditAccess Grameen, has signed a syndicated social loan facility worth up to $200 million, or approximately Rs 1,640 crore. The Reserve Bank of India (RBI) will categorise the loan as External Commercial Borrowing through its automatic route. The company has gained $160 million in commitments to date, with the opportunity to obtain another $40 million through a green-shoe option over 120 days from the date of the facility agreement signing. CreditAccess Grameen has drawn $100 million and will take the remaining commitments over the coming months. The social loan will follow the company’s social loan framework aligned with the Social Loan Principles 2023.
CreditAccess Grameen collaborates with social lenders for loans up to USD 200 million
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