German financial institution invests $ 20 million in Annapurna Finance

DEG, a German general development finance institution, has invested 150 crore rupees ($ 20 million) in Annapurna Finance, a microfinance institution based in Odisha.

Besides improving the capital base, DEG investments would be used to improve the credit of borrowers in the formal finance ecosystem in rural India.

After the first wave of Covid-19, DEG would be the second capital investment raised by Annapurna, after attracting a $ 30 million investment from the Nuveen Global Impact Fund in March 2021.

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