MFI CreditAccess Grameen raises $50-M from IFC

Bengaluru-based CreditAccess Grameen has raised USD 50 million from International Finance Corporation (IFC) under the external commercial borrowing route.The funding will help the non-banking financial company-micro finance institution (NBFC-MFI) to cater to 3-4 million additional women borrowers, engaged in agriculture and agri-related activities.The company operates across 398 districts in 16 states (Andhra Pradesh, Bihar, Chhattisgarh, Goa, Gujarat, Jharkhand, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Odisha, Rajasthan, Tamil Nadu, Telangana, Uttar Pradesh & West Bengal) and one union territory (Puducherry) through 2,031 branches.