$100 Million Credit Facility for MSMEs

Published on October 23, 2021
Current Context: The HDFC Bank, Mastercard, United States International Development Finance Corporation (DFC), and US Agency for International Development (USAID) have launched a $100 million credit facility for MSMEs in India.
$100 Million Credit Facility for MSMEs
  • It is part of USAID’s global Women Economic Empowerment Fund.
  • The credit facility aims to support small business sectors in India so that they can avail digital needs of their business.
  • The credit facility will also help the MSMEs to recover from the negative impacts of COVID-19.
  • The HDFC Bank will make sure that the credit facility is made available for new-to-credit small businesses holders with atleast 50% of women entrepreneurs being included in it.
  • The Mastercard will partner with CII and CAIT to grant skill training to the owners of small businesses.
  • Static Part: 
    • HQ of HDFC Bank: Mumbai
    • CEO of HDFC Bank: Sashidhar Jagdishan
    • Tagline of HDFC Bank: We understand your world.

Question: 

Q.1 Which entity has launched a $100 million credit facility for MSMEs in India?
a. United States International Development Finance Corporation (DFC)
b. HDFC Bank
c. US Agency for International Development (USAID)
d. Mastercard
e. All of the above

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