UK-headquartered, Standard Chartered Bank will originate and service $150 million microfinance institutional loans across Asia in collaboration with the Asian Development Bank (ADB).
Under this regional programme, ADB will share the risk via risk participation and guarantee programme on this portfolio for up to $75 million. It will also enable Standard Chartered Bank to extend additional credit to microfinance institutions, the bank said in a statement.
Peter Heidinger, Global Head, Financial Institutions Group, Standard Chartered, said, “This partnership with ADB will unlock more funding for microfinance and extend support to the sector when it is re-emerging from a difficult economic cycle. We expect this programme to benefit approximately 30 microfinance institutions in Asia.”