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IFC to channel $200mn into Shriram Transport Finance

IFC, a member of the World Bank Group, will channel $200 million into Shriram Transport Finance. The proceeds will be used for lending to small road transport operators and MSMEs in rural and semi-urban areas in low-income states. Shriram Transport Finance is the largest financier of commercial vehicles in India, focused on MSMEs that are economically weak and have limited credit history. Half of the total amount will come from IFC’s own account and the rest mobilized from like-minded partners including pension funds, insurance firms, and foreign institutional investors. 

Read More at The Economic Times News date : 31 Jul 2019, Wednesday

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