YES Bank gets $150 mn from OPIC to fund SME lending
July 14th, 2017
Private sector YES Bank has received $150 million funding from the US government and Wells Fargo to increase lending to support women entrepreneurs and small and medium-sized enterprises in India. This is the third round of funding to the bank as part of arrangement with the Overseas Private Investment Corporation (OPIC) -the US government development finance institution and Wells Fargo. Under the agreement, OPIC will provide $ 75 million in financing and up to $ 75 million in syndicated financing jointly arranged by Wells Fargo Bank to Yes Bank. $ 50 million of the financing would be used to expand support to women-owned businesses, while another equal amount will be used for financing SME business in low-income states.