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IBL Inde
IBL
Proparco has just signed a USD 75m loan with IndusInd Bank for its Microfinance Division. This financing will allow the bank to increase the number of microcredits allocated to women entrepreneurs in seven of the poorest States in India. It will thereby contribute to the development of women’s entrepreneurship.

IndusInd Bank Limited (IBL) est une banque commerciale indienne qui intègre, depuis 2019, l’activité de l’institution de microfinance

IndusInd Bank Limited (IBL) is an Indian commercial bank that merged with the microfinance institution Bharat Financial Inclusion Ltd (BFIL) in 2019. With over 8 million borrowers, IndusInd is today the 2nd largest player in the microfinance sector in India. The bank operates in 24 Indian States and over 100,000 villages, particularly in rural regions. It thereby contributes to increasing financial inclusion.

IndusInd’s Microfinance Division offers loans to small groups of borrowers who are all women. They mainly work in the livestock and small trade sectors.

The USD 75m loan allocated by PROPARCO will allow the bank to develop its microfinance project portfolio and support women entrepreneurs in seven of the poorest States in India: Bihar, Chhattisgarh, Jharkhand, Madhya Pradesh, Odisha, Rajasthan and Uttar Pradesh.

This financing will thereby contribute to the development of women’s entrepreneurship and the financial inclusion of women in the most vulnerable regions in India. It is estimated that PROPARCO’s loan should provide some 250,000 women with access to a microcredit.

This project is part of the 2X Challenge initiative. This multilateral initiative aims to support projects that empower women as entrepreneurs, business leaders, employees and consumers of products and services and increase their participation in the economy.

To accelerate the financial inclusion of women in rural areas in India, PROPARCO has already allocated USD 15m of financing to the microfinance institution Annapurna this year.