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Multilateral lender Asian Development Bank (ADB) has signed a US$150m loan deal with India-based Shriram Finance to fund micro, small and medium-sized enterprises (MSMEs), electric vehicles, and low-emission commercial vehicles, according to a 24 March press release from ADB.
The agreement forms part of a US$306m package led by ADB, with co-financing from Japan International Cooperation Agency and Export-Import Bank of India, the release said.
Shriram Finance focuses on commercial vehicle and MSME lending across India.
Source: ADB
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