IFC to act as guarantor for loans of US$ 10 billion to Grassroots Trading Network

The International Finance Corporation (IFC), a member of the World Bank Group, has agreed to stand guarantor for loans worth 10 billion dollars to be sourced by Grassroots Trading Network, a part of SEWA Bank, from three nationalised banks. The objective is to expand the geographical outreach of SEWA Bank and strengthen its capacity. Read more on Indian Express

About Grass Roots Trading Network

The goal of the Grassroots Trading Network is to strengthen, support, and expand market opportunities for grassroots producer organizations with a particular focus on women producers. Since its creation, the GTN has developed a long-term plan to grow grassroots producers into effective participants in the global economy. -Know more at http://www.grassnet.org

IFC may invest US $10 mn in Ahmedabad’s SEWA Bank

Ahmedabad-based Shree Mahila SEWA Sahakari Bank may raise USD 10 mn in funding from International Financial Corporation (IFC), the private investment arm of World Bank. Gujarat-based SEWA Bank, part of the SEWA group founded by Ela Bhatt, will use the funding to expand its geographic presence and strengthen capacity. Read more on Moneycontrol

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