Non-Banking Financial Company-Micro Finance Institution (NBFC-MFI), CreditAccess Grameen Limited, has secured a $100 million multi-currency syndicated social loan facility.
The company, which qualifies as an External Commercial Bank (ECB) under the automatic route of the Reserve Bank of India (RBI), will utilise the proceeds from this loan to be directed toward eligible social projects, supporting CA Grameen’s mission of driving equitable and sustainable progress.
The loan comprises Japanese Yen (JPY) and United States Dollar (USD) currencies, predominantly raised from banks in South Asia and the Far East.
Headquartered in Bengaluru, CreditAccess Grameen Limited is a microfinance institution, focused on providing micro-loans to women customers predominantly in rural areas across India. The Company is now operating across 423 districts in 16 states including Andhra Pradesh, Bihar, Chhattisgarh, and Goa among others.
“It is deeply affirming to close our second syndicated social loan facility, and notably, the first in a multi-currency form, amounting to $100 million. The all-in borrowing cost of this transaction is highly competitive, comparable to domestic borrowing rates, and lower than our average cost of borrowing. We are confident of building on this momentum towards our dedicated target of 25-30 per cent foreign borrowings by FY28 to achieve geographic diversification, enhanced ALM position, and robust liability profile.” saidNilesh Dalvi, Chief Financial Officer, CreditAccessGrameen
The is the company’s second loan facility led by Standard Chartered Bank. The bank had previously bid for the CreditAccess Grameen’s landmark $200 million syndicated ECB in 2023.
The social loan shall adhere to CA Grameen’s Social Loan Framework, which aligns with the Social Loan Principles 2023, stipulating the use of proceeds, social development goals, and governance, according to the Loan Market Association.
The facility was initially launched for a base size of $70 million in November 2024 and achieved an oversubscription, resulting in commitments being upsized to $100 million from 7 banks.
(With Inputs from BL Intern Rohan Das)
Published on June 10, 2025
