Utkarsh Microfinance Pvt Ltd

Debt : March 2015

BIO has granted a USD 5 M loan to Utkarsh Microfinance Pvt Ltd, an Indian microfinance institution.

Amount

€ 3,625,555.00

Type of investment

Debt

Development impacts

Local economic growth
Financial inclusion
Gender

Beneficiary locations

Asia: India

Investment field

Financial Institutions

Activity

MFI

Organisation

Utkarsh Microfinance Pvt Ltd

Website

https://www.utkarshcoreinvest.com/

Domicile

India

UMPL was established in September 2009 to provide financial services to the financially excluded population, and essentially provides credit to female borrower groups under the Grameen model.

In addition to its for-profit activities, the Company also contributes part of its profit to a foundation that provides development services in the field of financial literacy, technical trainings and market linkage facilities.

UMPL essentially operates in rural and peri-urban areas in the states of Uttar Pradesh and Bihar. These areas are among the poorest of India and are clearly suffering from limited availability of financial services adapted to the low-income population.

Development impacts

Local economic growth
Credit provision to MSMEs: Operations are essentially related to the origination and monitoring of microloans
Financial inclusion
Food security and rural development: MFI mostly active in rural areas; portfolio consists of livestock, trade and agriculture.
Gender
MFI caters primarily to women.
BIO’s USD 5m loan will also contribute to financing approximately 16,500 self-employed women.