In March 2024, OeEB signed a EUR 15 million bilateral credit facility with Satin Creditcare Network, one of India's leading microfinance institutions. The funds will be used to finance income-generating and income-increasing activities of female small-scale and subsistence entrepreneurs in India. This marks OeEB's third loan to Satin Creditcare.
| Project name |
Satin Creditcare Network Limited |
| Region |
Southern and Eastern Asia |
| Sector |
Financial sector / Microfinance / SME |
| Service |
Investment Finance |
| Project country |
India |
| OeEB project volume |
EUR 15 million |
| Projekt partner(s) |
Satin Creditcare Network Limited |
Women in India often have limited access to banking services and loans due to a lack of collaterals. The goal of Satin Creditcare Network is to provide low-income women entrepreneurs, who are excluded from established financial services, with financial support to improve the livelihoods of their households and promote an economically productive environment.
Satin Creditcare Network Limited was founded in 1990 and has more than 1,300 offices in 24 states and union territories of India. Satin Creditcare is certified according to the Client Protection Principles of the Smart Campaign, one of the most prestigious awards for microfinance institutions that protect borrowers from over-indebtedness and ensure responsible lending.
With OeEB's credit line, Satin Creditcare will be supported in expanding its business, and subsequently opening new branches, especially in rural areas. This not only contributes to strengthening the private sector and reducing poverty in the country, but above all to gender equality in one of the regions with the highest gender gap in the world.