Yes Bank, the fourth largest private sector bank in India, has teamed up with the Overseas Private Investment Corporation (OPIC), the US Government’s Development Finance Institution, by signing a memorandum of understanding to explore OPIC financing of up to $220 million to increase lending to micro, small and medium enterprises (MSMEs) in India.
Specifically, $100 million of the financing would be used to support either Micro-SMEs or SMEs in underserved rural and urban markets. US-based lender Wells Fargo Bank, N.A., will act as sponsor and co-lender to the project.
Yes Bank’s sustainable development vision has been to ensure long term business success, by contributing towards economic and social development, a healthy environment and a stable society. The impact of this vision is comprehensively captured by reporting on environmental and social impacts that really matter, making the report very strategic, focused and credible.
