IDBI Bank, through its DIFC Branch in Dubai, has signed a loan agreement for USD 340 million with KfW, Germany. The loan has a maturity of 10 years and carries a competitive rate of interest. The loan would be availed by IDBI Bank for funding loans to the micro, small-and medium-sized enterprises (MSME) directly or indirectly through Microfinance Institutions (MFI's) and Non Banking Finance Companies (NBFC's). Part of the loan is dedicated for selected infrastructure projects to support municipalities and communities to improve health and living conditions.
IDBI Bank is the youngest, new generation, public sector universal bank that rides on a cutting edge core banking Information Technology platform. This enables the bank to offer personalized banking and financial solutions to its clients through its 1,111 branches and 1821 ATMs.
