IFC to guarantee $5-m pvt sector bank loan to SEWA

World Bank Group?s investment arm International Finance Corporation (IFC) will provide a partial credit guarantee for a $5 -million loan that an Indian private sector bank is providing to SEWA-sponsored Grassroots Trading Network Women.

Written by FE Bureau

May 25, 2012 00:24 IST

SEWA provides energy-efficient cook stoves and solar lanterns to more than 2,00,000 of its members in Gujarat, pioneering sustainable clean energy solutions for the poor.

The loan will be further utilised for on-lending to SEWA members to purchase the clean energy lanterns and cook stoves.

IFC is also advising Grassroots Trading Network on building a loan product line, setting up information systems and processes for managing loans, and on training staff to serve the low-income customer better.

The project is expected to generate carbon credits by reducing greenhouse gas emissions equivalent to one million tons of carbon dioxide over the life of the project.

This article was first uploaded on May twenty-five, twenty twelve, at twenty-four minutes past twelve in the am.