German Development Bank and Citi Announce Joint USD 76-Million Financing Package for Shriram Finance

Financial Report: Co-Financing Package for Shriram Finance Ltd

Key Highlights

• DEG (Deutsche Investitions- und Entwicklungsgesellschaft mbH) and Citi have provided a USD 76-million co-financing package to Shriram Finance Ltd to accelerate economic inclusion, rural development, and climate-aligned mobility in India.
• The package consists of a 40 million euro loan from DEG and a Rs 260 crore loan from Citi.

Co-Financing Details

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• DEG's loan will support lending to:
  • Micro, Small and Medium Enterprises (MSMEs)
  • Electric Vehicle (EV) financing
  • Women borrowers
  • Customers in underserved areas
• Citi's financing will support smallholder farmers, a critical segment for India's food security and rural economy.

Impact and Goals

• The initiative will contribute to multiple UN Sustainable Development Goals.
• The co-financing is expected to strengthen Shriram Finance's outreach to priority segments that remain underserved in India's credit ecosystem.
• The partnership demonstrates a commitment to advancing inclusive and climate-positive financing in India.

Partners' Perspective

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• Umesh Revankar, Executive Vice Chairman at Shriram Finance Limited, stated that the partnership will enable the company to support small businesses, women entrepreneurs, EV adoption, and small landholding farmers' segments.
• Gudrun Busch, Global Head Financial Institutions at DEG, highlighted that the facility will expand Shriram Finance's capacity to serve the real economy and contribute to financial inclusion.
• Anuradha Choudhary, Managing Director, Head of Financial Institutions, Corporate Banking, Citi India, noted that the co-financing demonstrates effective partnership between global financial institutions to unlock meaningful development impact.