CreditAccess Grameen signs pact with global banks to raise $75 million

CreditAccess has secured over $300 million in commitments this fiscal. HSBC arranged a social loan facility for the company. These funds will support eligible social projects. The company is diversifying its resource base. This move reinforces investor confidence in the microfinance sector. CreditAccess met over 15% of its borrowing needs through foreign sources this fiscal.