India: BusinessWire India.
Ahmedabad (India): Pahal Financial Services Pvt. Ltd., a leading Microfinance Institution dedicated to promoting financial inclusion, is excited to announce its collaboration with the U.S. International Development Finance Corporation, resulting in a substantial US$12 million investment aimed at advancing financial inclusion efforts in rural and semi-urban areas of India.
Pahal will receive a US$12 million loan for up to 8 years utilizing the External Commercial Borrowing route, under the terms of the agreement.
This strategic investment will be dedicated to expanding the microfinance loan portfolio, with a specific focus on women entrepreneurs in rural and semi-urban areas within India. With more than a million women entrepreneurs at the grassroots level, Mr. Pahal has already provided support to more than a million women entrepreneurs at the grassroots level, and this loan will further extend support to many more women.
The funds will enhance access to financial services, promote financial literacy, and promote the development of a more inclusive financial ecosystem in rural India. This partnership underscores the shared commitment of Pahal and DFC to empower underserved communities and address the financial gap in India's rural and semi-urban areas contributing to SDGs 1, 5 and 8.
Pahal has also been actively engaged with women with non-lending initiatives, including but not limited to insurance services, financial and digital literacy camps, and climate change preparedness studies to name a few.
Pahal and DFC are dedicated to fostering sustainable, inclusive economic growth, and this US$12 million investment represents a significant step towards achieving that goal in one of the most populous and dynamic countries in the world.