German Development Finance Institution DEG and Citi To Provide $76-Million Co-Financing Package To Shriram Finance

The German Development Finance Institution (DEG) and Citi have collaboratively announced a co-financing package totaling $76 million to support Shriram Finance, a prominent non-banking financial company (NBFC) in India. DEG is extending a loan of 40 million euros (approximately $46 million), while Citi is contributing a loan of Rs 260 crore. This financial partnership aims to bolster Shriram Finance's initiatives in providing loans and financial services, particularly focusing on underserved segments of the Indian market. The collaboration underscores the growing interest of international financial institutions in the Indian NBFC sector, which has been pivotal in driving the country's economic growth. With increasing demands for credit across various sectors, this funding is expected to enhance Shriram Finance's operational capabilities and expand its reach, thereby contributing to financial inclusion in India. Both DEG and Citi have expressed their commitment to supporting sustainable development and economic empowerment through this strategic investment.