Yes Bank Signs MoU Worth $220 Million With The US Govt’s OPIC
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Mumbai-headquartered private sector lender "Specifically, $100 million of the financing would be used to support either micro-SMEs or SMEs in underserved rural and urban markets. The agreement underscores OPIC's commitment to growing the small and medium business sector in India" Yes Bank said in a statement.
The contribution of Micro, Small and Medium Enterprises (MSME) sector is about 40% to India’s exports and about 35% to the GDP.
"It is a very meaningful agreement. This deal will also allow us to go into the underserved areas and to go into urban areas. This will be a very important part of our deliverables," said
The MoU was signed by OPIC president and CEO Elizabeth Littlefield and Yes Bank’s Kapoor.
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"We are excited to announce our partnership with Yes Bank in anticipation of the economic growth it will spur," said Littlefield.
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