fbpx 49268-001: Supporting Access to Finance for Women in Less-Developed States Project | Asian Development Bank

India: Supporting Access to Finance for Women in Less-Developed States Project

Nonsovereign (Private) Project | 49268-001 Status: Approved

Project Details

Project Officer
Doukidis, Doukas Private Sector Operations Department Request for information
Country
  • India
Sector
  • Finance
 
Project Name Supporting Access to Finance for Women in Less-Developed States Project
Project Number 49268-001
Borrower/Company Induslnd
Country India
Location Nation-wide
Type or Modality of Assistance
3423 Loan Ordinary capital resources USD 200.00 million Approved
Strategic Agendas Inclusive economic growth
Drivers of Change Governance and capacity development
Knowledge solutions
Private sector development
Sector / Subsector

Finance / Inclusive finance

Gender Equity and Mainstreaming Gender equity
Responsible ADB Department Private Sector Operations Department
Responsible ADB Division Private Sector Financial Institutions Division
Responsible ADB Officer Doukidis, Doukas
Project Sponsor(s)
Description
Objectives and Scope Drives financial inclusion by providing credit to significantly underserved market segments, predominantly women in rural areas of India''s less-developed states. At least 95% of the ADB funding will be used to provide credit to women borrowers, and at least 70% of the number of loans provided under the ADB loan will be deployed in India''s less developed states.
Status of Development Objectives IndusInd's financial capacity to service women microfinance borrowers under its inclusive finance business operations is increased.
Status of Operation/Construction On-going
Linkage to Country/Regional Strategy Under the Midterm Review of Strategy 2020, ADB aims to strengthen the finance sector by promoting inclusive growth. Inclusive finance will be supported by the focus on rural areas where productivity is low and the potential for income generation is high. The assistance is also consistent with the country partnership strategy, 2013-2017 for India, which highlights the importance of inclusive growth through inclusive financial systems. The project is also aligned with ADB''s Gender Equality and Women's Empowerment and Operational Plan, 2013-2020. It is designed to have a gender equity theme and will directly target the provision of financial services to women.
Safeguard Categories
Environment
Involuntary Resettlement
Indigenous Peoples
Summary of Environmental and Social Aspects
Environmental Aspects The bank''s inclusive finance business activities have minimal or no adverse environmental impacts.
Involuntary Resettlement The bank''s inclusive finance business activities are unlikely to entail impacts on involuntary resettlement.
Indigenous Peoples The bank''s inclusive finance business activities are unlikely to entail impacts on indigenous peoples.
Stakeholder Communication, Participation, and Consultation IndusInd partners with business correspondents in underserved states. Business correspondents are expected to mobilize deposits and drive credit penetration in rural areas.
Timetable for assistance design, processing and implementation
Concept Clearance 07 Jul 2015
Credit Committee Meeting 05 Oct 2015
Approval 20 Sep 2016
Last PDS Update 12 Jun 2019

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