According to DFC documents, the project will finance the expansion of the borrower's vehicle finance program for micro, small and medium enterprises (“MSME”) in India in alignment with its social finance framework.The Project is expected to have a highly developmental impact in India through support for the Borrower’s expansion of credit for commercial vehicle purchases by MSMEs, often owner operators. Prior to the Covid-19 pandemic, the IFC found the MSME finance gap in India to be equivalent to 11 percent of GDP by value. Despite the pandemic crisis, the Borrower’s credit outstanding to existing and new borrowers continues to grow, providing significant support to the recovery of the Indian economy. The Project is also expected to have a significant rural impact in India and to facilitate greater transport sector efficiency in the country.
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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