Yes Bank has inked an agreement for on-lending $50 million loan received from World Bank arm IFC to women entrepreneurs. This project 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. It was launched by IFC, through its Banking on Women program, and Goldman Sachs 10,000 Women in 2014.
The $50 million Yes Bank loan aims to support women in all 29 states and 7 union territories in India. An estimated three million women-owned businesses in India employ over eight million people. However, only about a quarter of them are able to get the finance they need to grow and create jobs.
Yes Bank, India’s fifth largest private sector Bank, has a pan India presence across all 29 states and 7 Union Territories of India. The bank has adopted international best practices, the highest standards of service quality and operational excellence, and offers comprehensive banking and financial solutions to all its valued customers.
