Fusion Micro Finance secures USD 25 million loan from U.S. International Development Finance Corporation (DFC)
Delhi, 18th May 2024: Fusion Micro Finance [BSE (BOM: 543652) and NSE (NSE: FUSION)], one of India’s leading NBFC-MFI, has entered into a loan agreement with the United States International Development Finance Corporation (DFC) in Delhi, India. The overall facility from DFC is for USD 25 million, out of which Fusion Micro Finance has received an initial disbursement of USD 20 million. The borrowing is in accordance with the extant External Commercial Borrowing (ECB) guidelines. These funds will be utilized towards expansion of Fusion Micro Finance’s business operations in India with a mission of advancing financial inclusion and economic empowerment among women entrepreneurs in rural India.
Talking about this partnership with DFC, Gaurav Maheshwari, Chief Financial Officer, Fusion Micro Finance Ltd. said, “We have successfully closed a USD 25 million loan facility from United States International Development Finance Corporation (DFC), in sync with our strategy to tap varied sources of funds and diversify our liability mix. This borrowing will help in expanding our business operations and loan growth. It is an eight (8) year loan which will further strengthen our asset- liability mix. We are confident that this landmark transaction will open doors for larger pools of international capital to fund our future growth plans”.
The partnership with DFC not only strengthens Fusion Micro Finance’s financial position but also enhances its credibility and reputation within the global development financial landscape. It signifies a vote of confidence in Fusion Micro Finance’s operational resilience, ethical practices, and long-term sustainability. By leveraging the loan facility from DFC, Fusion aims to improve its outreach and impact, driving positive social change and economic development in underserved communities.
Disclaimer: This press release is provided by a third party and has not been independently verified. We do not guarantee its accuracy. Readers are advised to conduct their own research before relying on the information herein.