Annapurna Finance Secures USD 109.5 Mn via Multilateral ECB Transaction The funds will support rural women and underserved populations, enhancing financial access, boosting economic participation, and fostering development in India's underbanked regions through targeted microfinance initiatives.
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Micro and SME finance institution Annapurna Finance Private Limited (AFPL) announced that it has raised USD 109.5 million through a multilateral syndicated social loan facility under the External Commercial Borrowing (ECB) framework.
The transaction was exclusively arranged by Standard Chartered Bank.
The facility involved participation from 10 prominent financial institutions across Southeast Asia, the Middle East, and Africa. Structured under a social financing framework validated by S&P Global, it aligns with Annapurna's goal of fostering economic empowerment. Additionally, a green-shoe option allows the company to raise an additional USD 40 million.
The funds will be deployed for on-lending to microfinance borrowers, with a specific focus on rural women and underserved populations. The initiative aims to enhance access to financial services, boost economic participation, and promote development in underbanked regions of India.
"This transaction marks a pivotal milestone for Annapurna Finance. The participation of global financial institutions underscores their confidence in our mission of financial inclusion. These funds will strengthen our ability to provide credit to underserved communities and diversify our funding sources," said Gobinda Chandra Pattanaik, Managing Director of Annapurna Finance.
Founded in 2009, Annapurna Finance claims to rank among India's top five NBFC-MFIs by Assets Under Management (AUM). The company operates across 21 states, serving over 2.9 million borrowers through 1,500+ branches in 424 districts.
Specialising in microfinance, MSME lending, and green finance, Annapurna is backed by global investors and development finance institutions.
This landmark transaction underscores Annapurna's dedication to driving inclusive growth and bridging financial gaps in underserved communities.
