JSA advised the lenders Citibank N.A. (“Citi”) and DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH (“DEG”) in relation to the co-financing extended to CreditAccess Grameen Limited (“CAG”) by way of INR term loan facilities aggregating to INR 170,00,00,000 extended by Citi and external commercial borrowing aggregating to EUR 25,000,000 extended by DEG (collectively, “Facilities”).
The proceeds from the Facilities is proposed be utilised by CAG for providing microfinance services to women entrepreneurs predominantly in rural areas. This long-tenor co-financing arrangement is one of its kind in the Indian microfinance industry, representing a significant step in strengthening CAG’s funding profile to further its mission of providing affordable financial services to women entrepreneurs across India.
