Yes Bank Gets Another $150 M From OPIC To Fund SME Lending
Private sector Yes Bank has received another round of USD 150 million funding from US government and Wells Fargo to fund SME lending.
This is the third round of funding as part of arrangement between the Overseas Private Investment Corporation (OPIC) US government development finance institution and Wells Fargo, with the objective to increase lending to small and medium enterprises in India.
OPIC will provide USD 75 million in financing to Yes Bank and up to USD 75 million as a syndicated financing from Wells Fargo Bank, a part of financial services provider Wells Fargo & Company.
This is the third transaction between OPIC and Yes Bank and comes close on the heels of last years USD 265 million OPIC facility, which the bank will use to extend SME financing in India, Yes Bank sa...