Question : USAID, DFC tie-up with Kotak Bank for loan guarantee programme for women, small biz in India. Write the loan amount ?
a. 50 million dollar
b. 25 million dollar
c. 15 million dollar
d. None of the above
Ans. a.
Related facts —
- USAID, DFC has recently(August 2021) tied-up with Kotak Bank for $50 mn loan guarantee for women, small biz in India.
- USAID & DFC —
- USAID stands for — United States Agency for International Development. While DFC is an US International Development Finance Corporation.
- It is notable that Kotak Bank will be providing loans for on-lending to non-bank lenders operating in the MSME and microlending space.
- The programme is likely to benefit 30,000 women borrowers and 7,500 MSMEs.
- At least half of the loans are earmarked to be given to women-led or women-managed MSMEs, or MSMEs that employ a certain percentage of women or that produce a good or service that disproportionately benefits women.
- The program will be supported by Chennai-based NBFC Vivriti Capital, which will provide a $1 million first loss guarantee, and also extensive analytical and sourcing support through debt platform Credavenue.
- DFC will provide KMB with a ‘pari passu’ guarantee, which is financially sponsored by USAID, of up to 50 per cent of the remaining $24.5 million loan.