Mustafa forex

Mustafa forex

The proceeds from these mustafa forex impact bonds, which will be unsecured and unlisted, will be used to help rural women in the country’s poorest States to set up or scale up their own enterprises. The bonds, which will be raised by SIDBI with the support of World Bank and UN Women, will be placed with leading wealth managers and corporates in the country on private placement basis. The coupon rate on these bonds will be 3 per cent per annum. Junaid Ahmad, Country Director, World Bank, said investors expect greater social impact of their investment, which will fetch them a reasonable return of 3-4 per cent per annum.

He added that investments in such bonds should be made tax exempt to attract investors. Currently, MFIs charge borrowers between 20-24 per cent. 50 lakh will be disbursed by MFIs. Prayaas’ for providing funding support to women entrepreneurs.

Under a pilot, SIDBI has lent to women entrepreneurs in a few districts in Uttar Pradesh and Karnataka. Under WLB, women in Bihar, Jharkhand, Madhya Pradesh, Maharashtra, Rajasthan, Uttar Pradesh and North-East, among others, are expected to receive most of the credit. The bonds will be backed by a corpus fund to be mobilised through corporate social responsibility contributions and via grant support from the UK’s Department for International Development. The corpus guarantee cover will enable women entrepreneurs to access credit at much lower rates of interest, according to a World Bank statement. This article is closed for comments.