The Switzerland-based firm responsAbility Investments recently loaned USD 25 million to Annapurna Finance, a microfinance institution (MFI) seeking to reduce poverty and spread economic opportunity in India. The MFI plans to on-lend the funds to families as well as smaller businesses looking to acquire solar panels and other equipment that reduces the need for fossil fuels. As Annapurna has
Tag: Annapurna Finance
MICROCAPITAL BRIEF: Annapurna of India Borrows $10m from MicroVest to Expand Microfinance for Rural Women
MicroVest, an asset management subsidiary of US-based DAI Global, recently lent USD 10 million to Annapurna Finance, an India-based microfinance institution (MFI) that lends to groups of women for purposes such as agriculture, crafts, solar lighting and housing improvements. The MFI also lends to
MICROCAPITAL BRIEF: Annapurna Raises $35m from Accion, Encourage Capital, Oikocredit to Support Green Microfinance, Digitalisation
Annapurna Finance, a microfinance institution (MFI) based in the Indian state of Odisha, recently raised INR 193 billion (USD 35 million) from US-based NGO Accion, US-based impact investor Encourage Capital and Dutch cooperative investor Oikocredit. The funding is to be used to boost the digitalisation of Annapurna’s operations and for developing
MICROCAPITAL BRIEF: Microfinance Institution Annapurna Raises $30m in Equity from TIAA’s Nuveen, Other Investors to Support Lending for Women, SMEs, Housing, Green Finance in India
Annapurna Finance, a microfinance institution (MFI) in India that primarily funds women, recently announced it has raised USD 30 million in equity. The lead investor is US-based asset manager Nuveen, via its Global Impact Fund. The identities of