Private sector Yes Bank has received USD 150 million funding from the US government and Wells Fargo to increase lending to support women entrepreneurs and small and medium-sized enterprises in India. Under the agreement, OPIC will provide USD 75 million in financing and up to USD 75 million in syndicated financing jointly arranged by Wells Fargo Bank to Yes Bank, a statement said. An MoU in this regard was signed by Dev Jagadesan, OPIC s Acting president and Chief Executive Officer (CEO), and Arun Agrawal, Group President International Banking, Yes Bank. Rana Kapoor, managing director and CEO, YES BANK said the facility would support financing to women entrepreneurs in India for driving future economic growth and job creation. This is the third transaction between OPIC and Yes Bank and comes close on the heels of last year's USD 265 million OPIC facility, which the bank will use to extend SME financing in India, Yes Bank said in its regulatory filing.

Source: dna July 14, 2017 08:26 UTC