Indian Economy News

Yes Bank signs MoU with Overseas Private Investment to support MSMEs

  • Livemint" target="_blank">Livemint
  • January 28, 2015

New Delhi: Yes Bank Ltd on Tuesday signed a memorandum of understanding (MoU) with the US government’s development finance institution Overseas Private Investment Corp. (OPIC) to explore $220 million of financing to lend to micro, small and medium enterprises (MSMEs) in India, the bank said in a press release.

Out of the $220 million, $100 million will be used to support MSMEs in under-served rural and urban markets, the bank said. US-based Wells Fargo Bank NA is the co-lender in the scheme.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.

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