According to the DFC, the Project is expected to have a positive development in India by addressing the country’s micro, small, and medium enterprise (“MSME”) financing gap, which is estimated to be $230 billion or equivalent to 11% of GDP, and by contributing to the country’s efforts to increase renewable energy generation and reach net zero emissions
by 2070. To the end, the Project will seek to provide loans to MSMEs for climate mitigation and adaptation activities using unconventional movable assets as collateral. In addition, the Project will seek to improve the livelihoods of women by allocating 30% of proceeds to women-owned/led MSMEs.
DFC loans to Financial Institutions for MSME lending are screened as a Category ‘C’ for environmental and social assessment.
As stated on the company's website, Clime Finance Private Limited is a Reserve Bank of India registered NBFC.
As stated on the company's LinkedIn profile, Clime Finance sees this as an opportunity to operate as a NBFC, primarily focusing on lending to small and medium sized enterprises (SMEs) engaged in Climate adaptation and mitigation activities such as renewable energy, sustainable transport, sustainable agriculture; healthcare, and digital enterprises.
No project contacts provided at the time of disclosure.
Financial Intermediary - Clime Finance Private Limited:
Address: No 8 LSC, Madangir, New Delhi, Delhi 110062, India
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