YES Bank has signed Memorandum of Understanding (MoU) with International Finance Corporation (IFC), a member of the World Bank Group to launch private equity (PE) fund for investments across sectors in the North Eastern states.
The PE fund will focus on investments across sectors of Tourism & Hospitality, Food & Agribusiness, Infrastructure, Healthcare, Education & Livelihood Creation and Affordable Housing.
Earlier in 2011, IFC provided a $75 million loan to help Yes Bank expand its network to reach small and medium enterprises, and agricultural borrowers in India.