Varthana (India) (DFC-VARTHANA)

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
Thirumeni Finance Private Limited d/b/a Varthana
The holder of the loan, grant, or other investment.
Sectors
  • Education and Health
  • 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)
$ 15.00 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)
$ 71.00 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


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Project Description

According to bank documents, "This Project will have a highly developmental impact by expanding growth financing to private schools in India that cater to low-and middle-income youth. The Project provides flexible loans to fund new classrooms, IT equipment, bathrooms for girls, teacher training, and other learning materials. In India, the primary school enrollment rate stands at 83 percent, while secondary school enrollment rates are only 54 percent. Indian schools are also struggling to meet the material needs of their students; 37 percent of schools do not have toilet facilities, and 44 percent do not have separate facilities for girls. In addition to helping to relieve financing constraints faced by Indian private schools, the Project Company also will provide technical assistance to schools. This assistance includes evaluating and recommending improvements as well as references for high-quality service providers for English and science instruction."

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

No contact information provided at the time of disclosure.