Northern Arc Capital, which is mostly into debt arrangement and small lending, has raised $50 million (around Rs 365 crore) in external commercial borrowing from the Japanese International Cooperation Agency (JICA) for on-lending to small borrowers.
Northern Arc Capital will use the proceeds for on-lending to women or towards companies that mostly benefit women through these MFIs and originator partners.
Jica is the Japanese government agency that works towards promoting economic and social growth in developing countries.
