Axis Bank has signed a partial guarantee facility agreement (PGFA) with Asian Development Bank (ADB) to support supply chain financing for impact sectors, under which ADB will provide guarantees (variable) to the lending done by Axis Bank.
The programme is scalable, with an initial foundational ramp-up of nearly $150 million (Rs 1,139.85 crore). Even as the programme is sector agnostic, it will have special focus on ESG (environmental, social and governance) and other priority sectors, re-affirming both institutions' commitments to positive developmental and environmental impact in the country.
Axis Bank is the third largest private sector bank in India. The bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses.
