YES BANK partners with OPIC and Wells Fargo to Support Financing of Women Entrepreneurs and SMEs

  • Loan agreements totaling USD $150 million to support SMEs in India
  • USD $50 million dedicated for financing women-owned businesses; USD $50 million to support financing SMEs in low income states
  • Continued faith and trust reposed by world’s leading development finance institutions in YES BANK’s business and financial model

WASHINGTON: YES BANK, India’s 4th largest Private Sector Bank, has teamed up with the Overseas Private Investment Corporation (OPIC), the U.S. Government’s Development Finance Institution, and Wells Fargo on an agreement to increase lending to small and medium enterprises (SMEs) in India. Under the agreement, OPIC will provide $75 million in financing and up to $75 million in syndicated financing jointly arranged by Wells Fargo Bank and OPIC to YES BANK. Specifically, $50 million of the financing will be used to expand support to women-owned businesses, while another $50 million will be used for financing SME businesses in low-income states.

Dev Jagadesan, OPIC’s Acting President and Chief Executive Officer (CEO), signed the financing agreement alongside Mr. Arun Agrawal, Group President – International Banking, YES BANK, showcasing both the organizations’ dedication towards ensuring access to funding for women-owned businesses and SMEs in India.

This is the third transaction between OPIC and YES BANK and comes close on the heels of last year’s $265 million OPIC facility, which YES BANK will use to extend SME financing in India. YES BANK has also partnered with International Finance Corporation and Women Entrepreneurs Opportunity Facility by drawing a $50 million loan in March 2016 for mobilizing capital for women entrepreneurs.

“This significant co-financing agreement comes on the back of successful execution of two similar facilities by YES BANK over the past two years. This agreement with OPIC further strengthens YES BANK’s ability to fund and support the unique needs of SMEs and the entrepreneurial ecosystem; thereby boosting the developmental agenda in low-income states of India. The agreement underscores the potential of YES BANK’s business and financial model. This facility will support financing to women entrepreneurs in India for driving future economic growth and job creation” said Rana Kapoor, Managing Director and CEO, YES BANK.

OPIC, YES BANK, and Wells Fargo have a strong history of partnering to support lending to small businesses and I look forward  to continuing this partnership to foster economic growth in India by alleviating the financial challenges  SMEs commonly face,” said Dev Jagadesan, OPIC’s Acting President and CEO. “OPIC’s facility will help YES BANK expand its SME lending capacity, specifically enabling them to reach both women and entrepreneurs in low-income states who have much to contribute to India’s economic activity.”

SMEs contribute about 45 percent of industrial output and employ 42 million people in India. An estimated three million women-owned businesses in India employ over eight million people. However, only about a quarter of them are able to get the finance they need to grow and create jobs.

The World Bank estimates that viable and addressable demand for SME lending in India debt surpasses supply by $48 billion, a shortfall that holds back the transformative effect a thriving entrepreneur class can have on a developing economy. This gap is particularly pronounced in India’s low income states and women-owned businesses, where approximately two-thirds of the SME debt gap resides.


YES BANK, India’s fourth largest private sector Bank with a pan India presence across all 29 states and 7 Union Territories of India, headquartered in the Lower Parel Innovation District (LPID) of Mumbai, is the outcome of the professional & entrepreneurial commitment of its Founder Rana Kapoor and its Top Management team, to establish a high quality, customer centric, service driven, private Indian Bank catering to the future businesses of India.

YES BANK has adopted international best practices, the highest standards of service quality and operational excellence, and offers comprehensive banking and financial solutions to all its valued customers. YES BANK has a knowledge driven approach to banking, and offers a superior customer experience for its retail, corporate and emerging corporate banking clients. YES BANK is steadily evolving as the Professionals’ Bank of India with the long term mission of “Building the Finest Quality Bank of the World in India by 2020.”

About OPIC

The Overseas Private Investment Corporation (OPIC) is a self-sustaining U.S. Government agency that helps American businesses invest in emerging markets. Established in 1971, OPIC provides businesses with the tools to manage the risks associated with foreign direct investment, fosters economic development in emerging market countries, and advances U.S. foreign policy and national security priorities. OPIC helps American businesses gain footholds in new markets, catalyzes new revenues and contributes to jobs and growth opportunities both at home and abroad. OPIC fulfills its mission by providing businesses with financing, political risk insurance, advocacy and by partnering with private equity investment fund managers. 

OPIC services are available to new and expanding businesses planning to invest in more than 160 countries worldwide. Because OPIC charges market-based fees for its products, it operates on a self-sustaining basis at no net cost to taxpayers. All OPIC projects must adhere to best international practices and cannot cause job loss in the United States. 

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $2.0 trillion in assets. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 8,500 locations, 13,000 ATMs, the internet ( and mobile banking, and has offices in 42 countries and territories to support customers who conduct business in the global economy. With approximately 273,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 25 on Fortune’s 2017 rankings of America’s largest corporations. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.

 Caption of the photo from OPIC.GOV site:
Dev Jagadesan, Overseas Private Investment Corporation Acting President and Chief Executive Officer, and Arun Agrawal, YES BANK Group President and Global Head International and Institutional Banking, sign a loan agreement totaling $75 million to support small and medium businesses in India. Mitesh Sanghvi, YES BANK Group Executive Vice President and Regional Head, Europe and Americas, and Thomas D. McCaffery, Wells Fargo Bank Executive Vice President, officiated at the ceremony.