German DEG & Citi Provide USD 76 Million Funding to Shriram Finance
In March 2026, German development finance institution DEG (Deutsche Investitions- und Entwicklungsgesellschaft mbH) and Citibank N.A. (Citi) jointly granted USD 76 million (nearly Rs 630 crore) co-financing lending facility to Shriram Finance Limited (SFL), one of India’s largest Non-Banking Financial Companies (NBFCs), to support financial inclusion and sustainable mobility in India.
In March 2026, German development finance institution DEG (Deutsche Investitions- und Entwicklungsgesellschaft mbH) and Citibank N.A. (Citi) jointly granted USD 76 million (nearly Rs 630 crore) co-financing lending facility to Shriram Finance Limited (SFL), one of India’s largest Non-Banking Financial Companies (NBFCs), to support financial inclusion and sustainable mobility in India.
- This marks the 2nd such collaboration between the two co-financing partners after the successful transaction supporting CreditAccess Grameen in 2024.
Key Details of Funding:
Funding Structure: The funding has been arranged through External Commercial Borrowings (ECBs), under which DEG has extended a USD 46 million (EUR 40 million) loan, while Citigroup (Citi) has provided a Rs 260 crore loan to Shriram Finance.
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- Citi also acted as the Lead Arranger and Coordinator for the transaction.
Target Areas: The proceeds from DEG will be used towards financing Micro, Small and Medium Enterprises (MSMEs), women borrowers, Electric Vehicles (EVs), and customers in underserved areas, enabling access to formal credit through SFL’s networks across India.
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