According to the bank document, OPIC will provide a ten-year, $5 million local currency guaranty under its Portfolio for Impact (“PI”) program for Aviom. A local commercial bank, IndusInd Bank, intends to provide an Indian rupee-denominated loan to Aviom, where proceeds will be used to expand its portfolio of housing loans. This guaranty will facilitate financing of approximately 1,200 home loans to women in predominately rural areas with tenors up to 10 years, providing a demonstration effect to local financial institutions for the viability of mortgage lending to low-income and informal-employment household segments (the “Project”).
According to the bank,
US sponsor: Mr. Kunal Sikka, a U.S. citizen
Foreign sponsors: Ms.Kajal Ilmi; Insitor Impact Asia Fund; Gojo & Company; Capital 4 Development Partners
No contact information provided at the time of disclosure.