Fusion Micro Finance secures USD 25 million loan from U.S. International Development Finance Corporation

Delhi, 17th May 2024: Fusion Micro Finance [BSE (BOM: 543652) and NSE (NSE: FUSION)], one of India’s leading NBFC-MFI, has entered into a loan agreement with the United States International Development Finance Corporation (DFC) in Delhi, India. The overall facility from DFC is for USD 25 million, out of which Fusion Micro Finance has received an initial disbursement of USD 20 million. The borrowing is in accordance with the extant External Commercial Borrowing (ECB) guidelines. These funds will be utilized towards expansion of Fusion Micro Finance’s business operations in India with a mission of advancing financial inclusion and economic empowerment among women entrepreneurs in rural India.

Talking about this partnership with DFC, Gaurav Maheshwari, Chief Financial Officer, Fusion Micro Finance Ltd. said, “We have successfully closed a USD 25 million loan facility from United States International Development Finance Corporation (DFC), in sync with our strategy to tap varied sources of funds and diversify our liability mix. This borrowing will help in expanding our business operations and loan growth. It is an eight (8) year loan which will further strengthen our asset- liability mix. We are confident that this landmark transaction will open doors for larger pools of international capital to fund our future growth plans”.

The partnership with DFC not only strengthens Fusion Micro Finance's financial position but also enhances its credibility and reputation within the global development financial landscape. It signifies a vote of confidence in Fusion Micro Finance's operational resilience, ethical practices, and long-term sustainability. By leveraging the loan facility from DFC, Fusion aims to improve its outreach and impact, driving positive social change and economic development in underserved communities.

About Fusion Micro Finance Limited:

Fusion Micro Finance [BSE (BOM: 543652) and NSE (NSE: FUSION)] founded in 2010, is amongst India’s leading NBFC-MFIs, touching the lives of ~ 4 million clients in the country. Fusion Micro Finance was established with the core idea of creating opportunities at the bottom of the pyramid by providing financial services to the underserved and unserved women entrepreneurs in rural areas. It is one of the youngest companies to be among the top NBFC MFIs in the country with an Asset under Management (AUM) of INR 11,476 crores. The company has been growing consistently with an extensive network of 1,297 branches spread across 22 states including 3 Union Territories, as of 31st March 2024. Fusion believes in robust business practices and transparent policies as expressed in its customer-centric efforts toward clients and is committed to creating sustained and balanced stakeholder value.

User :- Nishtha Arora

Email :-nishtha.arora@archetype.co

Mobile:- + 91 9999589773