This collaborative and innovative financing is designed to strengthen the company’s outreach to priority segments that remain underserved in India’s credit ecosystem.
FinTech BizNews Service
Mumbai, March 4, 2026: Deutsche Investitions- und Entwicklungsgesellschaft mbH – and Citi have jointly provided a USD 76 million co-financing package aimed at accelerating economic inclusion, rural development, and climate-aligned mobility across India through Shriram Finance Limited, one of India’s largest non-banking financial services (NBFCs). Under the co-financing loan structure, DEG has provided a Euro 40 million loan, while Citi has extended a INR 260 crore loan to Shriram Finance. This collaborative and innovative financing is designed to strengthen the company’s outreach to priority segments that remain underserved in India’s credit ecosystem. Citi acted as a Lead Arranger and Coordinator for this financing.
The DEG loan will support lending towards Micro, Small and Medium Enterprises (MSMEs), electric vehicle (EV) financing, women borrowers, and customers in underserved areas that will enable access to formal credit through Shriram’s strong networks across India. Citi’s financing will support smallholder farmers, a segment critical to India’s food security and rural economy, yet often constrained by limited access to affordable capital. Together, the initiative will contribute to multiple UN Sustainable Development Goals, including SDG 5 (Gender Equality), SDG 7 (Affordable and Clean Energy), SDG 8 (Decent Work and Economic Growth), and SDG 10 (Reduced Inequalities).
This marks the second collaborative financing initiative between Citi and DEG, following the successful transaction supporting CreditAccess Grameen in 2024, underscoring the institutions shared commitment to advancing inclusive and climate-positive financing in India.
Mr Umesh Revankar, Executive Vice Chairman at Shriram Finance Limited said that “We are proud to partner with DEG and Citi on this high-impact facility, which strengthens our mission of driving financial inclusion across India. This funding will enable us to support small businesses, women entrepreneurs, EV adoption, and small landholding farmers—segments that form the backbone of India’s growth story. Our deep presence in rural and semi-urban India positions us uniquely to channel this capital to customers who need it most”
“This investment aligns with DEG’s mission to foster sustainable private-sector growth in emerging markets,” added Gudrun Busch, Global Head Financial Institutions at DEG. “Shriram Finance has a strong track record in rural and semi-rural India, and this facility will expand their capacity to serve the real economy and contribute to financial inclusion”
“This co-financing demonstrates how global financial institutions can partner effectively to unlock meaningful development impact,” said Anuradha Choudhary, Managing Director, Head of Financial Institutions, Corporate Banking, Citi India. “By supporting Shriram Finance’s reach into priority underserved sectors, we are enabling economic empowerment where it is needed most. In 2021, Citi also announced its global goal to finance and facilitate US$1 trillion towards sustainable finance by 2030. This solution aligns with the bank’s commitment towards sustainability.”
