According to the project documents, This Project is expected to have a highly developmental impact in India Objectives through the support of a financial institution during a difficult economic period. The outbreak and ensuing pandemic of COVID-19 has had a significant impact on India. Most recent IMF estimates show a recession and 10.3 percent contraction in the economy in 2020. The pandemic has not only led to an economic slowdown in India, but also created uncertainty regarding the fundraising environment for financial institutions. The Project will provide vital Tier 2 capital to help increase liquidity for a bank to weather this financial and economic crisis and continue its positive developmental activities. In addition, this transaction will be made to a Borrower focused on the employment of women, as indicated by the goal of having 40 percent of its workforce female by 2025. With a more secure asset base as a result of this loan, the Borrower is expected to be able to continue to support its positive developmental activities. In addition, this transaction will be made to a Borrower focused on the employment of women, as indicated by the goal of having 40 percent of its workforce female by 2025. With a more secure asset base as a result of this loan, the Borrower is expected to be able to continue to support its portf olio of underserved demographic groups in India.
No contact information provided at the time of disclosure.
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