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Yes Bank has signed agreements worth $5 mn with US cos for SME lending

On Tuesday, the private sector lender Yes Bank said that it has signed loan agreements worth USD 265 million with OPIC and Wells Fargo to support small business growth in India.

The bank said in a regulatory filing that “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”.

It further added that the agreement was signed in Washington DC.

It 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.

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