<article>Dutch development bank FMO has committed to investing $40 million in Indian non-banking financial company (NBFC) Satin Creditcare Network Ltd. (SCNL), according to a disclosure.</article>

Dutch development bank FMO has committed to investing $40 million in Indian non-banking financial company (NBFC) Satin Creditcare Network Ltd. (SCNL), according to a disclosure.
The investment will be in the form of a five-year, rupee-equivalent facility to grow SCNL&#8217;s water, sanitation &amp; hygiene, solar panel, and induction cooker loan portfolio.
Started in 1990, SCNL predominantly offers the traditional joint liability group lending to women entrepreneurs. To date, the company manages assets of over $1 billion, reaching around 3.5 million microentrepreneurs through a network of about 1400 branches.
FMO said the investment fits well into its strategic goals of reducing inequalities as the investment channels funds to microentrepreneurs in India.
Founded in 1970, FMO has a committed portfolio of 9.2 billion euros, with investments in more than 85 countries supporting sustainable private sector growth in developing and emerging markets by investing in businesses, projects and financial institutions.
FMO is an active investor in the Indian financial services space. In April, the bank announced plans to invest another $75 million in NBFC and debt financier <a href="https://www.dealstreetasia.com/stories/fmo-northern-arc-capital-393030">Northern Arc Capital. </a>
In 2019, SCNL raised $9.4 million in external commercial borrowing (ECB) led by Switzerland-based international impact asset manager, responsAbility Investments AG, followed by $15 million in ECBs from the Development Bank of Austria (OeEB) in 2020.

Padma Priya

Dutch development bank FMO has committed to investing $40 million in Indian NBFC Satin Creditcare Network Ltd.

FMO to invest $40m in Indian NBFC Satin Creditcare Network

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FMO to invest $40m in Indian NBFC Satin Creditcare Network

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