"Yes Bank has signed an agreement with Overseas Private Investment Corporation (OPIC), the US government's Development Finance Institution, for debt financing of USD 245 million to increase lending to micro, small and medium enterprises (MSMEs) in India," Yes Bank said in a regulatory filing.
The loan agreement was signed in Washington DC, it added.
The domestic lender said that US-based Wells Fargo Bank will act as sponsor and co-lender to the project, providing a loan of USD 20 million, bringing the total facility amount to USD 265 million.
Specifically, half of the financing will be used to support either micro-SMEs or SMEs in under-served rural and urban markets, it said.
The commitments by OPIC and Wells Fargo were initiated during US President Barack Obama's visit to India in January this year.


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