According to DFC documents, the subject loan will allow CAGL to expand its microfinance portfolio serving women at the bottom of the pyramid in predominantly rural India.
This Project is expected to have a highly developmental impact by expanding the availability of microfinance lending to women in India, as well as providing more expansive financial products to its micro-clients, which graduate to SMEs and have increased financing needs. The Project will support microfinance lending to a projected 9.6 million individuals, who are all women and mostly low-income and rural individuals. The microfinance lending gap in India is estimated at $9 billion, while the gap for women microenterprises is estimated at $567 million. This Project aligns with the Government of India’s National Mission for Financial Inclusion and the RBI’s National Strategy for Financial Inclusion, which envision comprehensive financial inclusion for the nation's poor, underbanked and unbanked.
ACCESS TO INFORMATION
Unlike many other development finance institutions, DFC does not currently have an access to information policy.
Under the United States Freedom of Information Act (FOIA), DFC is obliged to respond to reasonably formulated requests for Agency records. However, DFC may apply exemptions from release to certain types of information and may charge fees in responding to requests. DFC has a designated FOIA officer who is trained in how to respond to requests and implement the law. You can learn more about filing a FOIA request at: https://www.dfc.gov/foia
ACCOUNTABILITY MECHANISM OF THE UNITED STATES INTERNATIONAL DEVELOPMENT FINANCE CORPORATION (DFC)
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