CreditAccess Grameen Raises $100 Million Multi-Currency Syndicated Social Loan to Strengthen Rural Microfinance

In a key milestone toward advancing inclusive finance in India, CreditAccess Grameen Ltd (CA Grameen) has successfully secured a $100 million multi-currency syndicated social loan facility, marking its second such facility and the first structured in both Japanese Yen (JPY) and United States Dollar (USD).

Key Highlights

• Loan Composition: The funding comprises JPY and USD, predominantly sourced from banks across South Asia and the Far East.
• Use of Proceeds: Funds will be deployed for eligible social projects under CA Grameen’s Social Loan Framework, aligned with Social Loan Principles 2023 by the Loan Market Association.
• Scale and Reach: Operating in 423 districts across 16 states, CA Grameen focuses on women-centric microloans in rural India.
• RBI ECB Route: The loan qualifies as External Commercial Borrowing (ECB) under the automatic route of the Reserve Bank of India (RBI).

Strategic Impact

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• Diversified Borrowing Profile: The company aims to achieve 25–30% foreign borrowings by FY28, enhancing geographic diversification, asset-liability management (ALM), and liability robustness.
• Cost Efficiency: CFO Nilesh Dalvi stated that the borrowing cost is competitive, on par with or lower than domestic borrowings.
• Oversubscription Success: Initially launched with a base size of $70 million in November 2024, the facility was upsized to $100 million due to oversubscription from seven participating banks.
• Standard Chartered Bank acted as lead arranger, replicating its role from CA Grameen’s landmark $200 million ECB deal in 2023.

About CreditAccess Grameen

Headquartered in Bengaluru, CreditAccess Grameen is India’s largest NBFC-MFI, with a mission to empower rural women through access to credit. The firm continues to expand its presence in states such as Andhra Pradesh, Bihar, Ch