According to the bank's documents, the project will support "Expansion of Northern Arc Capital Limited’s loan portfolio with a focus on loans for women-owned businesses, food security, and water, sanitation, and hygiene in India"
"The Borrower plans to use at least 40% of the DFC loan to finance loans for women and women-led or owned enterprises, which will help to close the $567 million finance gap facing Indian women microentrepreneurs and the $20 billion gap for women-led SMEs. Furthermore, the Borrower plans to lend 20% of the DFC loan to projects that support India’s water, sanitation and hygiene sector and 20% of the DFC loan for agricultural financing that supports food security, both of which are considered Priority Sectors by the Reserve Bank of India. This Project aligns with the Government of India’s National Mission for Financial Inclusion and the Reserve Bank of India’s National Strategy for Financial Inclusion, which envision comprehensive financial inclusion for the nation’s poor, underbanked and unbanked."
No contact information provided at time of disclosure.
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The Office of Accountability is an independent office that addresses complaints about environmental or social issues related to DFC-supported projects. The office provides communities an opportunity to have concerns independently reviewed and addressed. If you submit a complaint to the Office of Accountability, it may assist you by either seeking to address your problems by facilitating a problem solving dialogue between you and those implementing the project and/or investigating whether the DFC complied with its policies to prevent environmental, social, human rights, and labor harms.
You can find more information about the Office of Accountability at: https://www.dfc.gov/who-we-are/office-accountability