IBRD Loan: US$200 million
Terms: Maturity = 25 years; Grace = 14.5 years
IDA Credit: US$100 million equivalent
Terms: Maturity = 35 years; Grace = 10 years
Project ID: P119043
Project Description: The funding from the project will be used by the Small Industries Development Bank of India (SIDBI) for on-lending to Indian Microfinance Institutions (MFIs).The funding is designed to support operations and growth in MFIs, enhance their financial strength, and enable them to leverage private commercial funds to on-lend larger amounts to the under-served. The project will also support responsible finance initiatives such as the establishment of a microfinance information platform and promotion of adherence to a code of conduct for MFIs, as well as for capacity building and monitoring.