Arohan Fin (IFC-41105)

Countries
  • India
Where the impacts of the investment may be experienced.
Specific Location
Kolkata
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Jun 11, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
AROHAN FINANCIAL SERVICES PRIVATE LIMITED
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 14.67 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Mar 29, 2019

Disclosed by Bank May 7, 2018


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Project Description

The project aims to invest in Arohan Financial Services Private Limited which is a registered non-banking finance company microfinance institution in India. IFC’s proposed investment will help Arohan to diversify its sources of funding and to expand the outreach of access to microfinance to borrowers who have little or no access to formal sources of financing.

The project will have the following two components:

1. Access to Microfinance: This will support the company in expanding the outreach of access to microfinance to borrowers, especially low-income households, who have little or no access to formal sources of financing.

2. Balanced growth of Microfinance: This investment will promote a more balanced growth of microfinance in India.

Investment Description
  • International Finance Corporation (IFC)
Private Actors

Arohan Financial Services Private Limited is a Reserve Bank of India (RBI) registered non-banking finance company microfinance institution (NBFC-MFI).

Contact Information

For inquiries about the project

Arohan Financial Services (P) Ltd. 
Mr. Milind Nare 
Chief Financial Officier 
milind.nare@arohan.in 
DP-9, Sector V, Salt LakeKolkata 700 09. West Bengal. India 

For inquiries and comments about IFC

General IFC Inquiries
IFC Communications
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/