FIG India Financial Inclusion (IFC-600400)

Countries
  • India
Where the impacts of the investment may be experienced.
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
Active
Bank Risk Rating
U
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
Feb 10, 2015
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.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 2.68 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 Aug 4, 2017

Disclosed by Bank Jul 26, 2016


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Project Description
The overall goal of this project is to support the partner MFIs and Fintech firms to achieve their chosen route of institutional transformation (Small Finance Banks, Payment Banks etc) through a provision of long-term, comprehensive and integrated suite of advisory services to expand financial services to their clients.
People Affected By This Project
This project is intended to promote financial inclusion of low-income households and small businesses in India. IFC will provide technical assistance to the some of the leading MFIs and firms to support their transformation into Small Finance Banks and Payment banks. IFC will support them in organizational transformation, product & channel innovation and business model designing. The success of this project will demonstrate recent innovations and global best practices that are useful in reaching out to financially underserved segments.
Investment Description
  • International Finance Corporation (IFC)
Estimated Total Budget $2,680,000.00 (Project budget includes all project-funded activities)
Contact Information
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/