US Int’l Development Finance Corp Lends USD 49.5M to India to Support Energy Efficiency, Food Security

This comprises a USD 49.5 million loan to expand the implementation of electric "smart metres" and a USD 8 million loan guarantee for India's underserved micro, small, and medium businesses (MSME).

"A USD 49.5 million loan to Genus Power Infrastructures Ltd to scale up the deployment of electric 'smart metres' across India, enabling energy security and transition through grid optimization and efficiency," according to a press statement from the US International Development Financing Corporation.

The US International Development Finance Corporation stated that a USD 8 million loan guarantee will provide financing to Svakarma Finance Private Limited, a woman-founded, owned, and managed non-bank financial enterprise in India, to help early growth-stage businesses.

"An USD 8 million loan guaranty will provide financing to Svakarma Finance Private Limited, a women-founded, owned, and managed non-bank financial institution in India that on-lends to underserved micro, small, and medium enterprises," the US International Development Finance Corporation said in a statement.

"A commitment to Amicus Capital Partners II, a private equity firm investing in fast-growing, early-stage Indian businesses in industries like as financial services, food security and agriculture, healthcare, and technology and business services," it added. The US International Development Financing Corporation (DFC) announced in a news release that it has approved 17 new agreements totaling more than USD 655 million in investment.

"This quarter, the United States International Development Finance Corporation (DFC) approved 17 new agreements totaling more than USD 655 million in investment," according to the US International Development Finance Corporation. "The transactions will promote US foreign policy and development priorities around the world, including enabling sustainable infrastructure and energy security, boosting food security and agricultural innovation, assisting small companies, and improving healthcare," it added.

The DFC Board of Directors approved three projects, according to the press release. It announced a USD 300 million loan to the ISQ Growth Markets Climate Impact Fund, which would invest in essential infrastructure and energy projects in Asia and the Western Hemisphere's growing economies. It further stated that Akbank's USD 150 million bond purchase will help the bank to address regional and gender imbalances by promoting on-lending to women and women-led companies in Turkey's least developed provinces.

The US International Development Financing Corporation announced an equity investment of USD 18 million in BuyMed Pte Ltd, which will boost access to pharmaceutical items in rural areas and increase transparency and compliance in the Vietnamese healthcare market. According to the news release, the Corporation's investments include loans to Ghana, Guatemala, and Kenya.