Relief for microbusiness owners, here it comes
The Asian Development Bank (ADB) along with HSBC India has signed an agreement recently to establish a $100 million partial guarantee program to finance more than 400k microbusiness owners, especially small businesses owned by women. This agreement focuses on disbursing $30 million to the 3 Micro Financing Institutions (MFIs) initially, so they can have more access to funding for on-lending activities as they plan to expand post-pandemic.
Written and Researched by Rasheeka