- Asian Development Bank (ADB) has bought a 14% stake in micro-financier Annapurna Finance for Rs 137 crore.
- Annapurna Finance is based in Bhubaneshwar and is a Micro Finance Company. ADB’s investment in Annapurna is an equity expansion.
- ADB has backed MFIs to help achieve its broader objective of reducing poverty in Asia and the Pacific. he investment by ADB will expand Annapurna’s net worth to Rs 580 crore immediately.
Points to remember:
- ADB has bought what % of share in Annapurna Finance and its cost.
- Which Bank has recently bought 14% share in Annapurna Finance