Kinara Capital (India) (DFC-KINARA)

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
Visage Holding and Finance 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)
$ 11.00 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)
$ 25.00 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 Oct 28, 2019


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Project Description

According to bank documents, "This Project is expected to have a highly developmental impact by expanding the availability of credit to SMEs in India. SMEs contribute 45% of GDP and represent the second largest employer in India after the agriculture sector. Despite their significance, SMEs are constrained by accessing finance and face a formal financing gap of approximately $224 billion....The Project will help to address the financing gap by providing credit to an estimated 4,600 SMEs, while establishing a new program to target lending to women-owned SMEs."

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

No contact information provided at the time of disclosure.