MFI CreditAccess Grameen raises $20-M in ECBs from Austria's devt bank OeEB

Bengaluru-headquartered microfinance institution CreditAccess Grameen has raised USD 20 million in external commercial borrowings (ECB) from Development Bank of Austria, Oesterreichische Entwicklungsbank AG (OeEB). Chennai-based NBFC Northern Arc Capital assisted CreditAccess Grameen in end-to-end Indian financial market scoping, credit analysis, due diligence, transaction structuring, and execution. The fundraise comes close on the heels of CreditAccess Grameen's first ESG fundraise from Swedfund International AB qualifying under the 2X Challenge in 2021.