Question
Download Solution PDFWhich of the following banks has signed a loan of $40 million to Northern Arc Capital to support the microfinance borrowers and the MSME sectors in India?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is ADB.
Key Points
- The Asian Development Bank (ADB) signed a $40 million loan to Northern Arc Capital Limited (NACL) to support the livelihoods of microfinance borrowers and MSMEs in India.
- The loan is disbursed to NACL as part of ADB's ongoing COVID-19 response.
- NACL will on-lend the loan proceeds and provide guarantees to financial institutions and individual borrowers.
Additional Information
- ADB:
- Headquarters - Mandaluyong, Philippines.
- President - Masatsugu Asakawa. (Feb 2022)
- Founded On - 19 December 1966.
Last updated on Jun 26, 2025
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