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NBFC Dvara KGFS secures $14.4M from Impact Investment Exchange

Dvara Kshetriya Gramin Financials Pvt Ltd (Dvara KGFS), a prominent NBFC serving remote rural areas in India, has raised US $14.4 million through Listed Non-Convertible Debentures (NCDs) from Impact Investment Exchange (IIX). This capital infusion was facilitated by IIX through the US$100 million Women’s Livelihood Bond™ 6 (WLB6), recognized as the largest Orange and Sustainability labelled Bond in the market. Orange Bonds stand as the sole asset class bridging gender equity and climate action in emerging markets.

As frequent beneficiaries of the WLB Series, Dvara KGFS is enthusiastic about extending its partnership with IIX, an investor that has injected over US$150 million into India through the Series. Both Dvara KGFS and IIX are dedicated to fostering positive transformations through innovative financial solutions.

Dvara’s involvement in IIX’s latest Orange Bond highlights the company’s commitment to driving meaningful change while supporting the impactful initiatives of the Orange Movement™ within India’s financial inclusion landscape. Together, Dvara KGFS aims to make significant contributions towards the movement’s objective of mobilizing US$10 billion to empower 100 million women, girls, and gender minorities by 2030.

Dvara KGFS aims to positively influence 87,900 women and girls throughout the WLB6’s four-year duration, utilizing the IIX Values™ platform to ensure transparent impact assessment. The WLB6 issuance is designed to generate impact across various UN Sustainable Development Goals (SDGs), with a particular focus on advancing SDG 5: Gender Equality and SDG 13: Climate Action. Additionally, a portion of the proceeds allocated to Dvara will contribute towards SDG 6: Clean Water and Sanitation.

“Dvara KGFS is a mission-oriented financial institution and has been working in the gender-inclusive finance space to empower women and help them become more economically resilient, especially in the country’s rural hinterlands. We are delighted to have received this funding from IIX as we continue to bolster our efforts to innovate and enhance our product offerings, while driving value for our customers and stakeholders,” said LVLN Murty, MD & CEO, Dvara KGFS.

Shilpa Bhatter, CFO, Dvara KGFS, said, “The funds raised through the NCD issuance will be utilized to disburse Joint Liability Group (JLG), Micro Enterprise Loan (MEL), and Water, Sanitation, and Hygiene (WASH) loans for the benefit of women borrowers. Dvara KGFS remains committed to fostering financial inclusion, maintaining operational excellence, and creating sustainable value for all stakeholders.”

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