Northern Arc Capital Syndicates €10 Mn Debt Facility For Fusion Microfinance
Summary
We believe that especially in these turbulent times it is more important than ever to show a strong commitment and support to the underprivileged women entrepreneurs active in the rural areas of the country. The transaction facilitated by Northern Arc Capital, a leading digital debt platform that addresses the credit requirements of the underbanked in India, took over a year to culminate with the global health crisis throwing up multiple challenges." said Markus Christ, senior investment officer (Asia), BANK IM BISTUM ESSEN.Fusion has a PAN India presence through 650 branches across 300 under-developed districts in 18 states of the country. This will enable us to extend further support to our women clients who are facing extremely difficult challenges due to the ongoing pandemic," shared Devesh Sachdev, managing director and chief executive officer, Fusion Microfinance:The facility, syndicated and executed by Northern Arc, is the latest in a series of transactions where the company has used its extensive relationships with global DFIs to facilitate debt funding in its sectors. Since the onset of the pandemic, the company had raised debt for its own Balance Sheet or its partners from US DFC, ADB, FMO, Calvert Impact Capital, Blue Orchard and CDC.