CreditAccess Secures $100 Million Syndicated Social Loan For Inclusive Projects

CreditAccess Grameen on Tuesday said it has raised a $100 million multi-currency syndicated social loan, which qualifies as an external commercial borrowing under the Reserve Bank of India's automatic route.

This is the first such facility in India's microfinance sector. The funding, raised in Japanese yen and US dollars from Asia Pacific banks, will support social projects.

The initial size of $70 million launched in November 2024 was upsized after strong investor interest.

Standard Chartered Bank led the deal, marking its second syndicated loan for CreditAccess Grameen. In 2023, it had arranged a $200 million borrowing as sole arranger and book runner.