Pahal Financial Services Pvt. Ltd. (“Pahal”), a leading microfinance and MSME lender dedicated to providing financial inclusion to underserved communities in India, has successfully raised EUR 12.4MM (~INR 147Cr) in a round led by Proparco (115cr), the private sector financing subsidiary of the French Development Agency (AFD) along with existing investor, Gawa Capital (32cr). This investment will support Pahal’s mission to expand its outreach, strengthen its technology infrastructure, and enhance financial access for low-income households, particularly women entrepreneurs.

For the first time, Proparco has granted a 7.5 million euro loan to Serbian financial institution 3Bank, which specializes in financing small farmers and very small businesses in Serbia.

Proparco has provided a senior loan facility to Letshego Botswana (Letshego Financial Services Botswana) to the value of 15 million Euros. This funding partnership enables Letshego Botswana to extend the value of its inclusive finance strategy, increasing access and deepening the impact of its financial solutions to more Batswana, wherever they may be located.

AFD Group and Microfinance Solidaire (MFS) are strengthening their partnership, launched in 2016, through a new €2 million loan to support MFS's activity in favour of partner microfinance institutions and social enterprises.

Proparco has just granted a €400k loan to Rubyx through the Bridge by Digital Africa facility. This will enable the African start-up to roll out more rapidly its new algorithmic loan offering for start-ups and microfinance institutions on the continent.