PROJECT

Projects

Summary of Investment Information

Project Number

50065

Company Name

SMFG INDIA CREDIT COMPANY LIMITED

Date SPI Disclosed

Jan 9, 2025

Country

India

Region

South Asia

Projected Board Date

Nov 12, 2024

Environmental Category

FI-3 - No Impact

Status

Active

Last Updated Date

Jan 9, 2025

Department

Regional Industry - FIG Asia & Pac

Industry

Financial Markets

Previous Events

Approved : Nov 12, 2024
Signed : Dec 10, 2024
Invested : Dec 16, 2024

Sector

Other Non-Banking Financial Institution (NBFI)

Project Description

 The Project comprises up to INR14.25 billion (approximately US$170 million equivalent) debt investment in SMFG India Credit Company Limited (SMICC or the Company) through listed, senior, secured, INR denominated non-convertible debentures (NCDs) for a tenor of up to 5 years.

The Company will utilize the proceeds of IFC’s debt investment for growing its loan book towards micro, small, and medium enterprises (MSMEs), particularly microenterprises; at least 60% of proceeds will be used for lending to self-employed women borrowers. Additionally, at least 40% of the loans provided by the Company through IFC debt proceeds will be provided to these MSMEs through digital channels or will be processed digitally (digital lending).                                                  

Associated Advisory Engagement

Not applicable                                              

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation