Aviom (India) (DFC-AVIOM)

Countries
  • India
Where the impacts of the investment may be experienced.
Financial Institutions
  • US International Development Finance Corporation (DFC)
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
C
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.
Borrower
Aviom Housing Finance Pvt. Ltd.
The holder of the loan, grant, or other investment.
Sectors
  • Finance
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Guarantee
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 5.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 31.90 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ DFC website

Updated in EWS Jun 10, 2020


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Project Description

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”).

Investment Description
  • US International Development Finance Corporation (DFC)
Private Actors

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

Contact Information

No contact information provided at the time of disclosure.