CreditAccess Grameen raises Rs 50 crore from WaterCredit Investment Fund 3

Microfinance lender CreditAccess Grameen has raised about Rs 50 crore from WaterCredit Investment Fund 3, an initiative by a London-based nonprofit organization that works towards making household water and toilet solutions a reality across the globe.

CreditAccess raised the fund in rupee-denominated bonds at 9.7 percent annual rate. The fund is raised for three years.

Managing director Udaya Kumar Hebbar said providing loans to improve access to safe drinking water and sanitisation is part of CreditAccess's endeavour.


The company's board approved the terms of the bond Wednesday.