Non-banking financial company (NBFC) L&T Finance Holdings Ltd. (LTFH) said it had signed a financing pact with Japan International Cooperation Agency (JICA) for $125 million to support financing in rural and peri-urban areas [located between the outer limits of urban and rural environment] in India, particularly women borrowers.
At least 40% of the proceeds would be allocated to women borrowers, while the rest would be to support farmers and MSMEs, besides loans to purchase new two-wheeler vehicles, including electric two-wheelers.
Sachinn Joshi, Chief Financial Officer, LTFH said, “This long-term loan helps us take forward our ongoing strategy of diversifying funding sources for the company. By concentrating on lending in rural and peri-urban areas of lagging states, our project strategically aligns with the goals of India’s Ministry of Rural Development.”
