SEWA Grih Rin Limited (India) (DFC-SEWA)

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
SEWA Grih RinLimited (SGRL)
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)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 30.00 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)
$ 46.00 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 Mar 6, 2020


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

According to the bank document, the project will support "SEWA Grih RinLimited (“SGRL”) to expand its housing portfolio for low-income women borrowers in India. SGRL is an Indian housing finance company licensed by the National Housing Bank. SGRL provides micro-housing loans to low-income women borrowers, primarily working in the informal economy. The average annual income of an SGRL borrower is $1,682 and the average loan size is $3,300. SGRL’s various loan products provide financing for home purchases, construction, and crucial improvements. 

SGRL’s financing often supports crucial home improvement projects, such as the construction of a permanent roof or addition of a toilet, which make the difference between a substandard, informal dwelling and a safe and secure home. SGRL promotes financial inclusion by bringing financial services to those working in the informal economy. By insisting that the homes it finances be titled under the woman’s name or as a joint property, SGRL alsoadvances women’s empowerment in India by creating assets for its women borrowers. Since commencing operations in 2015, SGRL has reached over 5,000 borrowers, improving the living conditions of over 25,000 people. SGRL has experienced rapid growth, achieving a total portfolio size of $15,200,000 in November 2018, while maintaining a high-quality portfolio with a non-performing loan rate of less than 1%. SGRL currently operates 23 branches across six Indian states and employs 197 people..."

Investment Description
  • US International Development Finance Corporation (DFC)
Private Actors
  • Acumen Fund -- Parent Company
  • AHI Capital Gateway -- Parent Company
  • SEWA Grih Rin Limited -- Implementing Company
Contact Information

No contact information provided at the time of disclosure.