ADB disburses $150m financing to Chola to boost Indian MSMEs

The Asian Development Bank has completed the disbursement of a $150 million debt financing to Cholamandalam Investment and Finance Company Limited (Chola), in equivalent rupees, to help micro, small, and medium-sized enterprises (MSMEs) in India have better access to finance and expand financial inclusion in the country.

ADB's assistance to Chola is composed of senior secured nonconvertible debentures of tenors from three to five years, to help finance its lending operations to MSMEs - such as small road transport operators in the logistics and transportation businesses.