|
Project detail:
The Asian Development Bank (ADB) longer-tenor debt financing will provide loans to micro, small, and medium-sized enterprises (MSMEs) using digital financing channels.2 At least 75% of the debt proceeds will be onlent to MSMEs owned or co-owned or led by women (WMSMEs),3 at least 40% of the debt proceeds will be onlent to MSMEs in lagging states, and at least 25% of the debt proceeds will be onlent to MSMEs that are working in energy efficiency.
The project supports the following key operational priorities (OPs) and targets of ADB's Strategy 2030: (i) OP1: addressing remaining poverty and reducing inequalities; (ii) OP2: accelerating progress in gender equality; and (iii) OP3: tackling climate change, building climate and disaster resilience, and enhancing environmental sustainability. The project is also in line with ADB's country partnership strategy for India, 20232027, which focuses on accelerating structural transformation and job creation, promoting climate-resilient green growth, supporting private sector development in lagging states, and deepening social and economic inclusiveness. By supporting innovative modalities and products to promote access to finance for MSMEs, including WMSMEs, the project is also aligned with Strategy 2030's Finance Sector Directional Guide.
Note: please download project document attached to this project for more information.
|
