India’s Yes Bank takes on US$125 million loan from IFC

Will use it as loans to SMEs.

Yes Bank Ltd, India’s fourth largest private sector bank, said the loan from the International Finance Corporation, private sector lending arm of the World Bank, involves a 5 to 7 year senior loan of US$60 million from its own accounts and a syndicated loan of US$65 million, to increase its exposure to small and medium enterprises. IFC said that the project was intended to support the bank in providing access to finance to the SME portfolio; accessing long-term funding and diversifying its funding base franchise and increasing its reach and improving its market share, especially among SMEs and MSMEs. It also said its funding will add much needed resources to Yes Bank's MSME lending program, enabling significant additional numbers of MSME and agri customers to be served.